Equities research analysts forecast that Noble Co. PLC (NYSE:NE) will report sales of $220.63 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Noble’s earnings, with estimates ranging from $216.50 million to $224.75 million. Noble posted sales of $292.94 million during the same quarter last year, which suggests a negative year over year growth rate of 24.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, August 6th.

On average, analysts expect that Noble will report full year sales of $920.23 million for the current fiscal year, with estimates ranging from $900.22 million to $946.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $861.14 million, with estimates ranging from $765.26 million to $938.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Noble.

Noble (NYSE:NE) last announced its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.34) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.03). Noble had a negative return on equity of 10.23% and a negative net margin of 129.80%. The company had revenue of $281.31 million for the quarter, compared to analyst estimates of $267.80 million.

Several equities research analysts recently commented on the stock. Tudor Pickering lowered shares of Noble from a “buy” rating to a “sell” rating in a research note on Wednesday, March 11th. Wells Fargo & Co lowered shares of Noble from an “equal weight” rating to an “underweight” rating in a research note on Friday, March 13th. Evercore ISI lowered shares of Noble from an “outperform” rating to an “underperform” rating in a research note on Monday, March 9th. Royal Bank of Canada lowered shares of Noble from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, April 21st. Finally, ValuEngine upgraded shares of Noble from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. Twelve equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Sell” and an average price target of $1.61.

NYSE:NE traded up $0.12 during midday trading on Wednesday, hitting $0.28. 79,747,459 shares of the company were exchanged, compared to its average volume of 17,992,420. The company has a fifty day simple moving average of $0.20 and a 200 day simple moving average of $0.67. Noble has a fifty-two week low of $0.12 and a fifty-two week high of $2.32. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $40.15 million, a PE ratio of -0.04 and a beta of 2.30.

Several large investors have recently modified their holdings of the company. Invesco Ltd. boosted its holdings in shares of Noble by 106.8% in the first quarter. Invesco Ltd. now owns 4,539,874 shares of the oil and gas company’s stock valued at $1,181,000 after acquiring an additional 2,344,391 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Noble by 12.6% during the first quarter. Geode Capital Management LLC now owns 3,747,827 shares of the oil and gas company’s stock worth $974,000 after buying an additional 417,941 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in Noble by 11.2% during the first quarter. Nuveen Asset Management LLC now owns 1,394,506 shares of the oil and gas company’s stock worth $363,000 after buying an additional 140,814 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Noble by 434.1% during the first quarter. Parametric Portfolio Associates LLC now owns 392,934 shares of the oil and gas company’s stock worth $102,000 after buying an additional 319,358 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Noble by 18.5% during the first quarter. Van ECK Associates Corp now owns 5,172,711 shares of the oil and gas company’s stock worth $1,345,000 after buying an additional 805,820 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.

Noble Company Profile

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.

See Also: Example of operating income, EBIT and EBITDA

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Earnings History and Estimates for Noble (NYSE:NE)

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