Equities research analysts forecast that Noble Co. PLC (NYSE:NE) will report ($0.51) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Noble’s earnings, with the lowest EPS estimate coming in at ($0.58) and the highest estimate coming in at ($0.43). Noble reported earnings per share of ($0.43) in the same quarter last year, which suggests a negative year over year growth rate of 18.6%. The company is scheduled to report its next quarterly earnings report on Wednesday, October 30th.

According to Zacks, analysts expect that Noble will report full year earnings of ($1.66) per share for the current year, with EPS estimates ranging from ($1.77) to ($1.60). For the next year, analysts anticipate that the business will post earnings of ($1.19) per share, with EPS estimates ranging from ($1.46) to ($0.94). Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Noble.

Noble (NYSE:NE) last announced its earnings results on Thursday, August 1st. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.11. The firm had revenue of $292.90 million during the quarter, compared to analyst estimates of $271.59 million. Noble had a negative net margin of 28.97% and a negative return on equity of 8.14%. Noble’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.49) EPS.

A number of equities analysts recently issued reports on NE shares. Barclays set a $3.00 target price on shares of Noble and gave the company a “sell” rating in a research report on Friday, May 3rd. SEB Equities lowered shares of Noble from a “buy” rating to a “sell” rating and reduced their price objective for the company from $2.80 to $1.50 in a research report on Tuesday, June 18th. HSBC set a $3.00 price objective on shares of Noble and gave the company a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research lowered shares of Noble from a “buy” rating to a “hold” rating and set a $2.25 price objective for the company. in a research report on Tuesday, June 11th. Finally, Bank of America began coverage on shares of Noble in a research report on Monday, June 10th. They set an “underperform” rating and a $1.25 price objective for the company. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. Noble presently has an average rating of “Hold” and a consensus target price of $4.65.

NE traded down $0.19 on Thursday, reaching $1.02. The company had a trading volume of 364,032 shares, compared to its average volume of 5,848,666. The firm has a fifty day moving average of $1.82. The stock has a market cap of $298.98 million, a P/E ratio of -0.55 and a beta of 2.51. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.63 and a quick ratio of 0.63. Noble has a one year low of $1.20 and a one year high of $7.44.

Several hedge funds and other institutional investors have recently bought and sold shares of NE. Hellman Jordan Management Co. Inc. MA acquired a new position in Noble in the first quarter worth approximately $29,000. Evergreen Capital Management LLC acquired a new position in Noble during the first quarter valued at approximately $31,000. Fiera Capital Corp acquired a new position in Noble during the first quarter valued at approximately $39,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Noble in the first quarter worth $50,000. Finally, Atria Investments LLC acquired a new stake in shares of Noble in the second quarter worth $558,000. 79.05% of the stock is owned by institutional investors and hedge funds.

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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