We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
What's in Store for Noble Midstream's (NBLX) Q2 Earnings?
Read MoreHide Full Article
Noble Midstream Partners LP is scheduled to release second-quarter 2020 results on Aug 3. In the last reported quarter, the firm delivered an earnings surprise of 133.3%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Noble Midstream responded to the unprecedented economic crisis caused by the novel coronavirus outbreak by reducing organic capital, deferring project expenditures and reducing quarterly cash distribution. All these initiatives are expected to positively impact second-quarter results.
Also, these factors are expected to have offset weaker cash flow due to a decline in production from E&P companies in the second quarter and aided the firm in debt reduction.
Expectation
The Zacks Consensus Estimate for second-quarter earnings is pegged at 38 cents per unit, while the same for revenues is $164.4 million.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Noble Midstream this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Noble Midstream Partners LP Price and EPS Surprise
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Noble Midstream carries a Zacks Rank #2.
Other Stocks to Consider
Here are a few other companies worth considering from the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.
Diamondback Energy, Inc. (FANG - Free Report) is scheduled to release second-quarter results on Aug 3. It has an Earnings ESP of +6.69% and a Zacks Rank of 3.
Range Resources Corporation (RRC - Free Report) is set to release second-quarter results on Aug 3. It has an Earnings ESP of +2.61% and a Zacks Rank of 2.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
What's in Store for Noble Midstream's (NBLX) Q2 Earnings?
Noble Midstream Partners LP is scheduled to release second-quarter 2020 results on Aug 3. In the last reported quarter, the firm delivered an earnings surprise of 133.3%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Noble Midstream responded to the unprecedented economic crisis caused by the novel coronavirus outbreak by reducing organic capital, deferring project expenditures and reducing quarterly cash distribution. All these initiatives are expected to positively impact second-quarter results.
Also, these factors are expected to have offset weaker cash flow due to a decline in production from E&P companies in the second quarter and aided the firm in debt reduction.
Expectation
The Zacks Consensus Estimate for second-quarter earnings is pegged at 38 cents per unit, while the same for revenues is $164.4 million.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for Noble Midstream this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Noble Midstream Partners LP Price and EPS Surprise
Noble Midstream Partners LP price-eps-surprise | Noble Midstream Partners LP Quote
Earnings ESP: The firm’s Earnings ESP is +18.42%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, Noble Midstream carries a Zacks Rank #2.
Other Stocks to Consider
Here are a few other companies worth considering from the same industry that too have the right combination of elements to beat on earnings in the upcoming releases.
Noble Energy is set to release second-quarter results on Aug 3. It has an Earnings ESP of +9.62% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Diamondback Energy, Inc. (FANG - Free Report) is scheduled to release second-quarter results on Aug 3. It has an Earnings ESP of +6.69% and a Zacks Rank of 3.
Range Resources Corporation (RRC - Free Report) is set to release second-quarter results on Aug 3. It has an Earnings ESP of +2.61% and a Zacks Rank of 2.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>