Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Jefferies Group decreased their Q4 2017 earnings per share (EPS) estimates for Nabors Industries in a research report issued on Wednesday. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will earn ($0.31) per share for the quarter, down from their prior forecast of ($0.27). Jefferies Group has a “Buy” rating and a $9.00 price target on the stock. Jefferies Group also issued estimates for Nabors Industries’ Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at ($0.30) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($1.05) EPS, FY2019 earnings at ($0.20) EPS and FY2020 earnings at $0.70 EPS.
Other equities analysts have also recently issued reports about the stock. Morgan Stanley dropped their price objective on shares of Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday, August 7th. Bank of America Corporation lowered their price objective on shares of Nabors Industries from $8.50 to $8.00 and set a “buy” rating for the company in a research report on Wednesday. Sanford C. Bernstein reissued an “outperform” rating and issued a $12.50 price objective on shares of Nabors Industries in a research report on Wednesday, September 6th. Seaport Global Securities raised shares of Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Friday, August 18th. Finally, Cowen and Company lowered their price objective on shares of Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $11.52.
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Shares of Nabors Industries (NBR) opened at $6.40 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. Nabors Industries has a fifty-two week low of $5.32 and a fifty-two week high of $18.40.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The firm’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.55) earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Stockholders of record on Wednesday, December 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Tuesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is currently -8.96%.
A number of hedge funds and other institutional investors have recently made changes to their positions in NBR. Wells Fargo & Company MN boosted its holdings in Nabors Industries by 22.7% during the third quarter. Wells Fargo & Company MN now owns 866,154 shares of the oil and gas company’s stock worth $6,990,000 after buying an additional 160,248 shares in the last quarter. Trexquant Investment LP purchased a new stake in Nabors Industries during the third quarter worth $588,000. JPMorgan Chase & Co. boosted its holdings in Nabors Industries by 52.4% during the third quarter. JPMorgan Chase & Co. now owns 3,619,076 shares of the oil and gas company’s stock worth $29,423,000 after buying an additional 1,245,100 shares in the last quarter. Legal & General Group Plc boosted its holdings in Nabors Industries by 5.3% during the third quarter. Legal & General Group Plc now owns 603,824 shares of the oil and gas company’s stock worth $4,873,000 after buying an additional 30,269 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Nabors Industries by 50.6% during the third quarter. Nordea Investment Management AB now owns 358,098 shares of the oil and gas company’s stock worth $2,890,000 after buying an additional 120,367 shares in the last quarter. 96.45% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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