Noble Midstream Partners (NASDAQ:NBLX) closed the most recent trading day at $8.06, moving -0.12% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.12%. At the same time, the Dow lost 0.88%, and the tech-heavy Nasdaq lost 1.07%.
Coming into today, shares of the provider of oil, gas and water-related midstream services had lost 10.03% in the past month. In that same time, the Oils-Energy sector lost 8.29%, while the S&P 500 lost 0.59%.
Investors will be hoping for strength from NBLX as it approaches its next earnings release. In that report, analysts expect NBLX to post earnings of $0.56 per share. This would mark a year-over-year decline of 36.36%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $157.30 million, down 7.1% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.57 per share and revenue of $682.60 million. These totals would mark changes of -49.03% and +2.44%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for NBLX. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.72% higher. NBLX is currently a Zacks Rank #2 (Buy).
Looking at its valuation, NBLX is holding a Forward P/E ratio of 5.14. This represents a discount compared to its industry's average Forward P/E of 8.81.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 170, putting it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Noble (OTC:NEBLQ) Midstream Partners LP (NBLX): Free Stock Analysis Report
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