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Noble Energy Third Quarter Earnings Preview
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Noble Energy (NYSE:NBL) will release its third quarter earnings on Thursday, October 25, 2012. Analysts have become increasingly bearish on the company over the last month, with the consensus analyst estimate slipping from $1.05 a share to the current prediction of earnings of $1.03 a share.
In most situations, when earnings do not meet analyst estimates, a business' stock price will tend to drop. On the other hand, when actual earnings beat estimates by a significant amount, the share price will likely surge. SEE: 12 Things You Need To Know About Financial Statements
What to Expect: This is a drop from the consensus estimate three months ago of $1.19. For the fiscal year, analysts are expecting earnings of $4.86 per share.
Noble Energy is expected to report revenue of $1.05 billion for the quarter, beating last year's figure of $874 million by 20.1%. For the fiscal year, expected revenue is $4.31 billion.
Company Performance: Revenue for Noble Energy has been on the rise for four consecutive quarters. It increased 1.3% to $966 million in the second quarter. Prior to that, the figure rose 29.6% in the first quarter, 24.8% in the fourth quarter of the last fiscal year and 21.2% in the third quarter of the last fiscal year.
NBL's P/E ratio of 24.4 is above the industry average of 14.55. A company with a high P/E ratio will eventually have to live up to the high rating by substantially increasing its earnings, or the price will need to drop. Price/earnings ratios (P/E ratios) provide a measure of the relative value of a stock. From the investor's perspective, a stock with a lower ratio is relatively cheaper than a stock with a higher ratio. SEE: Understanding The P/E Ratio
Over the past quarter, the stock price has increased from $84.23 on July 24, 2012 to $94.24. August 10, 2012 to September 5, 2012 marked one of Noble Energy's worst periods, as the share price fell $4.71.
The Competition: Noble Energy is an independent energy company that acquires and produces crude oil, natural gas, and natural gas liquids. Analysts are optimistic about Noble Energy, with 15 of 21 assigning it a buy rating. The rating has remained steady for the past three months.
The company's closest competitor in the oil and gas operations industry is Anadarko (APC). Analysts are more optimistic about Noble Energy than about Anadarko. Only 21 out of 25 analysts rate the latter a buy.
In most situations, when earnings do not meet analyst estimates, a business' stock price will tend to drop. On the other hand, when actual earnings beat estimates by a significant amount, the share price will likely surge. SEE: 12 Things You Need To Know About Financial Statements
What to Expect: This is a drop from the consensus estimate three months ago of $1.19. For the fiscal year, analysts are expecting earnings of $4.86 per share.
Noble Energy is expected to report revenue of $1.05 billion for the quarter, beating last year's figure of $874 million by 20.1%. For the fiscal year, expected revenue is $4.31 billion.
Company Performance: Revenue for Noble Energy has been on the rise for four consecutive quarters. It increased 1.3% to $966 million in the second quarter. Prior to that, the figure rose 29.6% in the first quarter, 24.8% in the fourth quarter of the last fiscal year and 21.2% in the third quarter of the last fiscal year.
Over the past quarter, the stock price has increased from $84.23 on July 24, 2012 to $94.24. August 10, 2012 to September 5, 2012 marked one of Noble Energy's worst periods, as the share price fell $4.71.
The Competition: Noble Energy is an independent energy company that acquires and produces crude oil, natural gas, and natural gas liquids. Analysts are optimistic about Noble Energy, with 15 of 21 assigning it a buy rating. The rating has remained steady for the past three months.
The company's closest competitor in the oil and gas operations industry is Anadarko (APC). Analysts are more optimistic about Noble Energy than about Anadarko. Only 21 out of 25 analysts rate the latter a buy.
by
Investopedia Staff
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