$229.40 Million in Sales Expected for Noble Co. (NE) This Quarter

Brokerages expect Noble Co. (NYSE:NE) to announce sales of $229.40 million for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Noble’s earnings, with the lowest sales estimate coming in at $219.00 million and the highest estimate coming in at $242.66 million. Noble posted sales of $362.98 million in the same quarter last year, which would indicate a negative year over year growth rate of 36.8%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, May 2nd.

According to Zacks, analysts expect that Noble will report full-year sales of $229.40 million for the current financial year, with estimates ranging from $1.02 billion to $1.11 billion. For the next fiscal year, analysts expect that the business will report sales of $1.12 billion per share, with estimates ranging from $1.05 billion to $1.19 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Noble.

Noble (NYSE:NE) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.04. The firm had revenue of $329.59 million during the quarter, compared to the consensus estimate of $285.67 million. Noble had a negative return on equity of 4.61% and a negative net margin of 41.76%. The company’s quarterly revenue was down 19.6% on a year-over-year basis. During the same period last year, the company earned ($0.15) EPS.



A number of analysts recently issued reports on NE shares. Royal Bank of Canada set a $5.00 price objective on Noble and gave the stock a “hold” rating in a research report on Thursday, December 21st. ValuEngine downgraded Noble from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Jefferies Group set a $6.00 target price on Noble and gave the company a “buy” rating in a research report on Thursday, January 4th. Piper Jaffray reaffirmed an “underweight” rating on shares of Noble in a research report on Thursday, January 11th. Finally, Cowen set a $5.00 target price on Noble and gave the company a “hold” rating in a research report on Thursday, January 11th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $4.74.

A number of hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new stake in Noble in the third quarter valued at approximately $102,000. Everence Capital Management Inc. purchased a new stake in Noble in the fourth quarter valued at approximately $127,000. Investors Research Corp purchased a new stake in Noble in the fourth quarter valued at approximately $138,000. OxFORD Asset Management LLP purchased a new stake in Noble in the third quarter valued at approximately $219,000. Finally, WCM Investment Management CA purchased a new stake in Noble in the fourth quarter valued at approximately $294,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.

Shares of NYSE:NE traded up $0.14 during midday trading on Friday, reaching $4.39. 6,336,773 shares of the company’s stock were exchanged, compared to its average volume of 6,779,372. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1,029.06, a price-to-earnings ratio of -3.80 and a beta of 2.20. Noble has a fifty-two week low of $3.14 and a fifty-two week high of $5.80.

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About Noble

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry worldwide. It provides contract drilling services using mobile offshore drilling units. As of December 31, 2017, the company operated a fleet of 8 drill ships, 6 semisubmersibles, and 14 jack ups. Noble Corporation plc was founded in 1921 and is headquartered in London, the United Kingdom.

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