Noble Corporation (NYSE:NE) – Investment analysts at Seaport Global Securities reduced their FY2017 earnings estimates for Noble in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will earn ($1.19) per share for the year, down from their prior estimate of ($1.10). Seaport Global Securities also issued estimates for Noble’s Q4 2017 earnings at ($0.34) EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.31) EPS, Q4 2018 earnings at ($0.29) EPS, FY2018 earnings at ($1.25) EPS, Q1 2019 earnings at ($0.34) EPS, Q2 2019 earnings at ($0.37) EPS, Q3 2019 earnings at ($0.37) EPS and FY2019 earnings at ($1.45) EPS.

Several other analysts have also recently weighed in on the company. Royal Bank of Canada set a $5.00 price objective on Noble and gave the stock a “hold” rating in a report on Sunday, November 12th. ValuEngine raised Noble from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Piper Jaffray Companies reissued a “hold” rating and set a $2.85 price objective on shares of Noble in a report on Sunday, October 22nd. Deutsche Bank assumed coverage on Noble in a report on Tuesday, October 10th. They set a “hold” rating and a $4.00 price objective for the company. Finally, assumed coverage on Noble in a report on Thursday, October 19th. They set a “buy” rating and a $5.30 price objective for the company. Six research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $5.62.

Noble (NE) opened at $4.23 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.64. Noble has a twelve month low of $3.14 and a twelve month high of $7.80. The stock has a market capitalization of $1,021.51, a PE ratio of -0.57 and a beta of 2.34.

Noble (NYSE:NE) last released 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 Zacks’ consensus estimate of ($0.36). Noble had a negative return on equity of 3.94% and a negative net margin of 136.22%. The business had revenue of $266.20 million during the quarter, compared to analysts’ expectations of $269.61 million. During the same period in the previous year, the business posted ($0.23) earnings per share. The firm’s revenue for the quarter was down 30.9% compared to the same quarter last year.

Hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Noble in the 3rd quarter valued at approximately $102,000. Pinebridge Investments L.P. acquired a new position in shares of Noble in the 2nd quarter valued at approximately $117,000. Sanders Morris Harris LLC acquired a new position in shares of Noble in the 3rd quarter valued at approximately $161,000. BlueCrest Capital Management Ltd grew its position in shares of Noble by 179.0% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 42,652 shares of the oil and gas company’s stock valued at $154,000 after purchasing an additional 27,365 shares during the period. Finally, OxFORD Asset Management LLP acquired a new position in shares of Noble in the 3rd quarter valued at approximately $219,000. 86.80% of the stock is owned by institutional investors.

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Noble 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.

Earnings History and Estimates for Noble (NYSE:NE)

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