Analysts are expecting the independent energy company to post a year over year decline in both earnings per share and revenue for the most recent quarter.
Analysts surveyed by Thomson Reuters have forecast for a loss of 17 cents per share on revenue of $962.2 million for the most recent quarter.
Last year, Noble Energy reported earnings of 28 cents per share on revenue of $1.27 billion in the 2014 third quarter.
Shares of the company are increasing by 3.19% to $36.22 in late afternoon trading on Friday.
Separately, TheStreet Ratings team rates NOBLE ENERGY INC as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
We rate NOBLE ENERGY INC (NBL) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The current debt-to-equity ratio, 0.55, is low and is below the industry average, implying that there has been successful management of debt levels. Although the company had a strong debt-to-equity ratio, its quick ratio of 0.89 is somewhat weak and could be cause for future problems.
- The gross profit margin for NOBLE ENERGY INC is rather high; currently it is at 64.69%. Despite the high profit margin, it has decreased significantly from the same period last year. Despite the mixed results of the gross profit margin, NBL's net profit margin of -15.03% significantly underperformed when compared to the industry average.
- Net operating cash flow has decreased to $425.00 million or 48.67% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.
- The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. In comparison to the other companies in the Oil, Gas & Consumable Fuels industry and the overall market, NOBLE ENERGY INC's return on equity is significantly below that of the industry average and is below that of the S&P 500.
- You can view the full analysis from the report here: NBL