Zacks: Analysts Anticipate Noble Co. (NE) Will Post Quarterly Sales of $272.54 Million
Wall Street analysts forecast that Noble Co. (NYSE:NE) will post sales of $272.54 million for the current quarter, Zacks reports. Seven analysts have made estimates for Noble’s earnings, with the lowest sales estimate coming in at $257.00 million and the highest estimate coming in at $284.00 million. Noble reported sales of $410.16 million in the same quarter last year, which would suggest a negative year over year growth rate of 33.6%. The firm is expected to issue its next earnings report after the market closes on Wednesday, February 21st.
On average, analysts expect that Noble will report full-year sales of $272.54 million for the current year, with estimates ranging from $1.14 billion to $1.20 billion. For the next financial year, analysts forecast that the firm will report sales of $1.09 billion per share, with estimates ranging from $1.04 billion to $1.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Noble.
Noble (NYSE:NE) last posted its quarterly earnings results on Thursday, November 2nd. The oil and gas company reported ($0.36) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.36). Noble had a negative net margin of 136.22% and a negative return on equity of 3.94%. The business had revenue of $266.20 million during the quarter, compared to analyst estimates of $269.61 million. During the same period in the prior year, the business posted ($0.23) earnings per share. The company’s revenue was down 30.9% on a year-over-year basis.
Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in shares of Noble during the third quarter valued at about $102,000. Pinebridge Investments L.P. bought a new position in Noble in the second quarter worth about $117,000. BlueCrest Capital Management Ltd raised its stake in Noble by 179.0% in the second quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock worth $154,000 after buying an additional 27,365 shares in the last quarter. Sanders Morris Harris LLC bought a new position in Noble in the third quarter worth about $161,000. Finally, ProShare Advisors LLC raised its stake in Noble by 9.1% in the second quarter. ProShare Advisors LLC now owns 48,685 shares of the oil and gas company’s stock worth $176,000 after buying an additional 4,047 shares in the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.
Shares of Noble (NYSE:NE) opened at $4.72 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. Noble has a 1 year low of $3.14 and a 1 year high of $7.76.
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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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