S&P 500 (NYSE:SPY) component Noble Energy, Inc. (NYSE:NBL) will unveil its latest earnings on Thursday, July 28, 2011. Noble Energy, Inc. is an independent energy company that acquires and produce crude oil, natural gas (NYSE:UNG) and natural gas liquids.
Noble Energy, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $1.32 per share, a rise of 23.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $1.26. Between one and three months ago, the average estimate was unchanged, but has risen during the last month. For the year, analysts are projecting profit of $5.15 per share, a rise of 22% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 19 cents, reporting net income of $1.35 per share against a mean estimate of profit of $1.16 per share.
Wall St. Revenue Expectations: On average, analysts predict $919.1 million in revenue this quarter, a rise of 22.4% from the year ago quarter. Analysts are forecasting total revenue of $3.67 billion for the year, a rise of 21.5% from last year’s revenue of $3.02 billion.
Analyst Ratings: 12 out of 20 analysts surveyed (60%) have a buy rating on Noble Energy.. This is below the mean analyst rating of 10 competitors, which average 70.8% buy ratings. Over the past 90 days, the average rating for the stock has moved up from hold to moderate buy.
Revenue has risen the past four quarters. Revenue increased 27.2% to $899 million in first quarter. The figure rose 3% in the fourth quarter of the last fiscal year from the year earlier, climbed 21% in the third quarter of the last fiscal year from the year-ago quarter and 53.1% in the second quarter of the last fiscal year.
Competitors to Watch: Marathon Oil Corporation (NYSE:MRO), Anadarko Petroleum Corp. (NYSE:APC), EOG Resources, Inc. (NYSE:EOG), Newfield Exploration Co. (NYSE:NFX), Chevron Corporation (NYSE:CVX), Apache Corporation (NYSE:APA), Harvest Natural Resources, Inc. (NYSE:HNR), Murphy Oil Corporation (NYSE:MUR), Crimson Exploration Inc. (NASDAQ:CXPO), and ATP Oil & Gas Corporation (NASDAQ:ATPG).
Stock Price Performance: During June 23, 2011 to July 22, 2011, the stock price had risen $11.94 (13.9%) from $85.63 to $97.57. The stock price saw one of its best stretches over the last year between June 24, 2011 and July 5, 2011 when shares rose for seven-straight days, rising 7% (+$5.98) over that span. It saw one of its worst periods between December 29, 2010 and January 6, 2011 when shares fell for seven-straight days, falling 5.2% (-$4.51) over that span. Shares are up $11.84 (+13.8%) year to date.
(Source: Xignite Financials)