Noble Corp. (NYSE:NE) – Capital One Financial Corp. cut their FY2016 earnings estimates for shares of Noble Corp. in a research report issued on Wednesday. Capital One Financial Corp. analyst J. Gibney now expects that the brokerage will post earnings per share of ($0.23) for the year, down from their previous forecast of ($0.14). Capital One Financial Corp. also issued estimates for Noble Corp.’s Q4 2016 earnings at ($0.34) EPS.

Noble Corp. (NYSE:NE) last posted its earnings results on Thursday, November 3rd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.04. Noble Corp. had a net margin of 7.90% and a return on equity of 2.14%. The business earned $385.20 million during the quarter, compared to analyst estimates of $646.42 million. During the same quarter in the prior year, the business earned $0.72 earnings per share. The firm’s revenue was down 57.0% compared to the same quarter last year.

WARNING: This piece was published by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece on another publication, it was stolen and reposted in violation of US & international copyright laws. The correct version of this piece can be read at http://www.financial-market-news.com/noble-corp-expected-to-earn-fy2016-earnings-of-0-23-per-share-ne/1209716/.

Earnings History and Estimates for Noble Corp. (NYSE:NE)

A number of other research firms have also commented on NE. Vetr lowered Noble Corp. from a “strong-buy” rating to a “buy” rating and set a $6.90 price objective on the stock. in a research note on Wednesday, September 28th. Jefferies Group lowered their price target on Noble Corp. from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Wednesday, September 28th. Credit Suisse Group AG restated a “buy” rating and set a $10.00 price target on shares of Noble Corp. in a research note on Thursday, September 1st. Zacks Investment Research upgraded Noble Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, October 27th. Finally, Scotiabank restated a “sector perform” rating and set a $6.50 price target on shares of Noble Corp. in a research note on Wednesday, September 14th. Eight investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $8.27.

Shares of Noble Corp. (NYSE:NE) opened at 5.34 on Monday. The company has a 50-day moving average price of $5.48 and a 200 day moving average price of $6.89. Noble Corp. has a 52-week low of $4.45 and a 52-week high of $13.90. The firm has a market capitalization of $1.30 billion, a PE ratio of 6.19 and a beta of 2.10.

Institutional investors have recently made changes to their positions in the company. Oxford Asset Management raised its position in shares of Noble Corp. by 5.7% in the second quarter. Oxford Asset Management now owns 1,333,331 shares of the company’s stock worth $10,987,000 after buying an additional 71,873 shares during the last quarter. Speece Thorson Capital Group Inc. raised its position in shares of Noble Corp. by 20.3% in the second quarter. Speece Thorson Capital Group Inc. now owns 1,573,228 shares of the company’s stock worth $12,963,000 after buying an additional 265,625 shares during the last quarter. Boston Advisors LLC raised its position in shares of Noble Corp. by 5.6% in the second quarter. Boston Advisors LLC now owns 57,259 shares of the company’s stock worth $472,000 after buying an additional 3,029 shares during the last quarter. James Investment Research Inc. bought a new position in shares of Noble Corp. during the second quarter worth $124,000. Finally, Glenmede Trust Co. NA raised its position in shares of Noble Corp. by 98.5% in the second quarter. Glenmede Trust Co. NA now owns 355,782 shares of the company’s stock worth $2,930,000 after buying an additional 176,570 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

WARNING: This piece was published by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece on another publication, it was stolen and reposted in violation of US & international copyright laws. The correct version of this piece can be read at http://www.financial-market-news.com/noble-corp-expected-to-earn-fy2016-earnings-of-0-23-per-share-ne/1209716/.

About Noble Corp.

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.

5 Day Chart for NYSE:NE

Receive News & Ratings for Noble Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noble Corp. and related companies with MarketBeat.com's FREE daily email newsletter.