Noble (NE) Set to Announce Quarterly Earnings on Wednesday

Noble (NYSE:NE) will post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Noble to post earnings of ($0.52) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Noble (NYSE:NE) last released its quarterly earnings data on Thursday, August 1st. The oil and gas company reported ($0.34) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.11. The business had revenue of $292.90 million for the quarter, compared to the consensus estimate of $271.59 million. Noble had a negative net margin of 28.97% and a negative return on equity of 8.14%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.49) earnings per share. On average, analysts expect Noble to post $-2 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

NYSE NE opened at $1.40 on Wednesday. The company has a market cap of $323.90 million, a PE ratio of -0.76 and a beta of 2.51. Noble has a 52 week low of $0.99 and a 52 week high of $6.05. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $1.52 and its two-hundred day simple moving average is $1.92.

In other news, Director Julie H. Edwards purchased 25,000 shares of the stock in a transaction dated Monday, September 30th. The shares were purchased at an average cost of $1.24 per share, with a total value of $31,000.00. Following the completion of the acquisition, the director now owns 189,302 shares in the company, valued at approximately $234,734.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Several equities research analysts have commented on the stock. HSBC set a $3.00 price objective on shares of Noble and gave the company a “buy” rating in a report on Monday, July 15th. Citigroup downgraded shares of Noble from a “neutral” rating to a “sell” rating and set a $1.00 price objective on the stock. in a report on Monday, September 23rd. Royal Bank of Canada downgraded shares of Noble from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $9.00 to $3.00 in a report on Wednesday, September 25th. Scotiabank set a $1.00 price objective on shares of Noble and gave the company a “hold” rating in a report on Monday, August 26th. Finally, Morgan Stanley dropped their price objective on shares of Noble from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Monday, October 7th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Noble currently has an average rating of “Hold” and a consensus price target of $2.63.

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, 2018, the company operated a fleet of 24 drilling rigs consisted of 8 drill ships, 4 semisubmersibles, and 12 jack ups.

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Earnings History for Noble (NYSE:NE)

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