|Bid||0.0000 x 2200|
|Ask||0.0000 x 1200|
|Day's range||0.2000 - 0.2375|
|52-week range||0.0210 - 1.5750|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||05 Aug 2020|
|Forward dividend & yield||N/A (N/A)|
|1y target est||0.45|
Noble Corp. (NE) delivered earnings and revenue surprises of 31.37% and 9.89%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
The offshore driller (not to be confused with oil and gas producer Noble Energy, which Chevron recently agreed to acquire) has entered into a restructuring support agreement with two groups consisting of its largest bondholders. Noble will use the bankruptcy process to enable bondholders to exchange their bond holdings for equity in the reorganized company. In addition to that debt exchange, bondholders have also agreed to invest an additional $200 million into the company via new second-lien notes.
Noble Corp. (NE) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.