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How Analysts Rate Noble, Pre-Q2 2018 Results

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Jul. 23 2018, Updated 7:34 a.m. ET

Focus

Previously, we saw analysts’ recommendations and Q2 2018 earnings estimates for Ensco (ESV). In this part, we’ll look at analysts’ views on Noble (NE).

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Analysts’ recommendations

Analysts’ consensus rating for Noble is 3.2 on a scale of 1 (“strong buy”) to 5 (“strong sell”), meaning “hold.” Their ratings for other offshore drilling stocks (IYE) are as follows:

  • Transocean (RIG): 2.66, “hold”
  • Diamond Offshore Drilling (DO): 3.46, “hold”
  • Rowan Companies (RDC): 2.48, “hold”
  • Ensco (ESV): 2.59, “hold”

Of the 30 analysts covering Noble, 23% recommend some form of “buy,” 43% recommend “hold,” and 34% recommend some form of “sell.” Their 12-month target price of $5.19 for NE implies a 13.3% downside to its July 19 market price of $5.99.

Analysts’ estimates

After its revenue rose in the fourth quarter of 2017, Noble saw it drop in Q1 2018. Analysts expect its revenue to rise 8.8% sequentially and fall 7.97% YoY (year-over-year) to $255.9 million in the second quarter, and forecast its revenue to fall 11.74% YoY to $1.058 billion in fiscal 2018. Analysts also expect NE’s EBITDA to rise 15% sequentially and fall 10.9% YoY to $82.6 million in the second quarter.

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