Noble Corporation (NE) to Post FY2018 Earnings of ($1.45) Per Share, Jefferies Group Forecasts
Noble Corporation (NYSE:NE) – Analysts at Jefferies Group dropped their FY2018 EPS estimates for shares of Noble Corporation in a report issued on Monday. Jefferies Group analyst E. Royes now anticipates that the oil and gas company will post earnings of ($1.45) per share for the year, down from their previous estimate of ($1.35). Jefferies Group has a “Buy” rating and a $5.50 price objective on the stock.
Other equities research analysts also recently issued research reports about the company. Credit Suisse Group reissued a “buy” rating and issued a $10.00 price target on shares of Noble Corporation in a report on Friday, April 21st. Barclays PLC lowered their price target on Noble Corporation from $7.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, May 1st. Deutsche Bank AG raised their price target on Noble Corporation from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Monday, May 8th. Societe Generale downgraded Noble Corporation from a “buy” rating to a “hold” rating in a report on Monday, August 7th. Finally, Piper Jaffray Companies set a $4.00 price target on Noble Corporation and gave the stock a “hold” rating in a report on Monday, August 7th. Seven equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Noble Corporation has a consensus rating of “Hold” and a consensus price target of $6.10.
Shares of Noble Corporation (NYSE:NE) traded down 4.9592% during trading on Wednesday, reaching $3.2599. The company’s stock had a trading volume of 4,210,768 shares. The stock’s market capitalization is $798.36 million. Noble Corporation has a 12-month low of $3.22 and a 12-month high of $8.37. The firm’s 50-day moving average is $3.79 and its 200-day moving average is $5.04.
Noble Corporation (NYSE:NE) last issued its earnings results on Thursday, August 3rd. The oil and gas company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.02. Noble Corporation had a negative return on equity of 3.19% and a negative net margin of 122.04%. The business had revenue of $278.10 million during the quarter, compared to analyst estimates of $284.99 million. During the same quarter in the previous year, the firm earned $0.01 EPS. Noble Corporation’s revenue was down 68.9% on a year-over-year basis.
Hedge funds have recently bought and sold shares of the stock. Chicago Equity Partners LLC boosted its stake in Noble Corporation by 50.7% in the first quarter. Chicago Equity Partners LLC now owns 16,650 shares of the oil and gas company’s stock worth $103,000 after buying an additional 5,600 shares during the period. Teacher Retirement System of Texas boosted its stake in Noble Corporation by 16.8% in the first quarter. Teacher Retirement System of Texas now owns 19,601 shares of the oil and gas company’s stock worth $121,000 after buying an additional 2,816 shares during the period. Tiedemann Wealth Management LLC boosted its stake in Noble Corporation by 41.6% in the first quarter. Tiedemann Wealth Management LLC now owns 20,730 shares of the oil and gas company’s stock worth $128,000 after buying an additional 6,086 shares during the period. World Asset Management Inc boosted its stake in Noble Corporation by 1.4% in the first quarter. World Asset Management Inc now owns 21,981 shares of the oil and gas company’s stock worth $136,000 after buying an additional 295 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Noble Corporation during the first quarter worth approximately $139,000. Institutional investors and hedge funds own 96.83% of the company’s stock.
Noble Corporation Company Profile
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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