$779.96 Million in Sales Expected for Noble Energy, Inc. (NASDAQ:NBL) This Quarter

Equities analysts expect Noble Energy, Inc. (NASDAQ:NBL) to post $779.96 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Noble Energy’s earnings, with the lowest sales estimate coming in at $677.62 million and the highest estimate coming in at $859.00 million. Noble Energy reported sales of $1.12 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 30.4%. The company is scheduled to report its next quarterly earnings report on Thursday, November 5th.

According to Zacks, analysts expect that Noble Energy will report full-year sales of $3.26 billion for the current year, with estimates ranging from $3.09 billion to $3.39 billion. For the next financial year, analysts forecast that the company will report sales of $3.56 billion, with estimates ranging from $3.06 billion to $4.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Noble Energy.

Noble Energy (NASDAQ:NBL) last announced its earnings results on Monday, August 3rd. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.15. The company had revenue of $571.00 million for the quarter, compared to the consensus estimate of $642.10 million. Noble Energy had a negative return on equity of 1.41% and a negative net margin of 143.15%.

Separately, BidaskClub cut Noble Energy from a “sell” rating to a “strong sell” rating in a report on Sunday.

Shares of NBL traded up $0.03 during mid-day trading on Wednesday, hitting $8.55. The company’s stock had a trading volume of 10,660,418 shares, compared to its average volume of 12,349,148. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market capitalization of $4.10 billion, a P/E ratio of -0.74 and a beta of 2.62. Noble Energy has a 1-year low of $2.73 and a 1-year high of $25.08.

Noble Energy Company Profile

Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil and natural gas worldwide. The company also owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins. Its assets are located in the US onshore unconventional basins and various global offshore conventional basins in the Eastern Mediterranean and off the west coast of Africa.

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