Noble Co. (NE) Expected to Post Quarterly Sales of $283.97 Million

Wall Street brokerages expect Noble Co. (NYSE:NE) to announce sales of $283.97 million for the current quarter, according to Zacks. Seven analysts have made estimates for Noble’s earnings. The highest sales estimate is $332.00 million and the lowest is $264.70 million. Noble posted sales of $410.16 million during the same quarter last year, which indicates a negative year-over-year growth rate of 30.8%. The firm is expected to issue its next earnings report after the market closes on Wednesday, February 21st.

According to Zacks, analysts expect that Noble will report full year sales of $283.97 million for the current financial year, with estimates ranging from $1.17 billion to $1.24 billion. For the next year, analysts expect that the business will report sales of $1.10 billion per share, with estimates ranging from $1.03 billion to $1.16 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Noble.

Several research firms recently issued reports on NE. Susquehanna Bancshares set a $5.00 target price on Noble and gave the stock a “hold” rating in a research report on Friday. Piper Jaffray Companies reiterated an “underweight” rating on shares of Noble in a research report on Thursday, January 11th. Barclays set a $4.00 target price on Noble and gave the stock a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research cut Noble from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Finally, ValuEngine cut Noble from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Eight 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 company. Noble currently has a consensus rating of “Hold” and an average target price of $4.97.

Noble (NYSE:NE) traded down $0.01 during trading hours on Friday, hitting $4.09. The company had a trading volume of 4,479,522 shares, compared to its average volume of 8,440,000. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.58 and a quick ratio of 1.58. Noble has a 12-month low of $3.14 and a 12-month high of $7.39. The stock has a market capitalization of $1,000.00, a PE ratio of -0.56 and a beta of 2.22.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NE. Mountain Lake Investment Management LLC boosted its holdings in shares of Noble by 114.3% in the 4th quarter. Mountain Lake Investment Management LLC now owns 1,350,000 shares of the oil and gas company’s stock worth $6,102,000 after purchasing an additional 720,000 shares during the period. Q Global Advisors LLC boosted its holdings in shares of Noble by 9,900.0% in the 4th quarter. Q Global Advisors LLC now owns 100,000 shares of the oil and gas company’s stock worth $451,000 after purchasing an additional 99,000 shares during the period. Millennium Management LLC boosted its holdings in shares of Noble by 1,869.4% in the 4th quarter. Millennium Management LLC now owns 449,044 shares of the oil and gas company’s stock worth $2,030,000 after purchasing an additional 426,243 shares during the period. Deutsche Bank AG boosted its holdings in shares of Noble by 45.5% in the 4th quarter. Deutsche Bank AG now owns 2,895,081 shares of the oil and gas company’s stock worth $13,082,000 after purchasing an additional 905,521 shares during the period. Finally, AMP Capital Investors Ltd purchased a new position in shares of Noble in the 4th quarter worth approximately $683,000. Institutional investors and hedge funds own 89.90% of the company’s stock.

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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.

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Earnings History and Estimates for Noble (NYSE:NE)

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