Q4 2018 EPS Estimates for Noble Co. PLC Reduced by Analyst (NE)

Noble Co. PLC (NYSE:NE) – Research analysts at Piper Jaffray Companies reduced their Q4 2018 earnings per share estimates for Noble in a report issued on Monday, November 5th. Piper Jaffray Companies analyst I. Macpherson now expects that the oil and gas company will earn ($0.38) per share for the quarter, down from their prior forecast of ($0.37). Piper Jaffray Companies has a “Hold” rating and a $6.00 price target on the stock. Piper Jaffray Companies also issued estimates for Noble’s Q1 2019 earnings at ($0.50) EPS, Q2 2019 earnings at ($0.52) EPS, FY2019 earnings at ($1.96) EPS, FY2020 earnings at ($1.27) EPS, FY2021 earnings at ($0.41) EPS and FY2022 earnings at ($0.39) EPS.

Noble (NYSE:NE) last released its quarterly earnings data on Wednesday, October 31st. The oil and gas company reported ($0.43) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.02. Noble had a negative return on equity of 8.26% and a negative net margin of 79.51%. The business had revenue of $279.41 million during the quarter, compared to analyst estimates of $263.19 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.

NE has been the subject of a number of other research reports. Argus upgraded Noble from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Susquehanna Bancshares set a $8.00 price objective on Noble and gave the company a “hold” rating in a research report on Wednesday, October 10th. Barclays lowered Noble from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $4.00 to $5.00 in a research report on Thursday, August 9th. Credit Suisse Group set a $6.00 price objective on Noble and gave the company a “hold” rating in a research report on Friday, November 2nd. Finally, BTIG Research started coverage on Noble in a research report on Monday, September 17th. They set a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $6.24.

NYSE:NE opened at $4.69 on Thursday. Noble has a 12-month low of $3.39 and a 12-month high of $7.44. The company has a market cap of $1.21 billion, a P/E ratio of -4.11 and a beta of 2.45. The company has a quick ratio of 2.07, a current ratio of 2.09 and a debt-to-equity ratio of 0.83.

A number of hedge funds have recently made changes to their positions in NE. Welch & Forbes LLC acquired a new position in Noble during the 3rd quarter worth $115,000. First Mercantile Trust Co. boosted its position in Noble by 210.1% during the 3rd quarter. First Mercantile Trust Co. now owns 29,051 shares of the oil and gas company’s stock worth $204,000 after acquiring an additional 19,684 shares during the period. NumerixS Investment Technologies Inc acquired a new position in Noble during the 2nd quarter worth $229,000. Laurion Capital Management LP acquired a new position in Noble during the 2nd quarter worth $284,000. Finally, LMR Partners LLP acquired a new position in Noble during the 2nd quarter worth $317,000. Institutional investors own 85.88% of the company’s stock.

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, 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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Earnings History and Estimates for Noble (NYSE:NE)

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