Analysts Anticipate Nabors Industries Ltd. (NBR) to Announce ($0.32) EPS

Shares of Nabors Industries Ltd. (NYSE:NBR) have received an average broker rating score of 1.78 (Buy) from the eighteen brokers that cover the company, Zacks Investment Research reports. Seven investment analysts have rated the stock with a hold recommendation and eleven have assigned a strong buy recommendation to the company. Nabors Industries’ rating score has declined by 6.6% from 90 days ago as a result of various analysts’ upgrades and downgrades.

Brokers have set a 1 year consensus price target of $9.33 for the company and are anticipating that the company will post ($0.32) earnings per share for the current quarter, according to Zacks. Zacks has also given Nabors Industries an industry rank of 182 out of 265 based on the ratings given to its competitors.

NBR has been the topic of several research reports. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, August 18th. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Tuesday, August 15th. Credit Suisse Group set a $9.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Nomura set a $12.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $8.00 target price (down previously from $9.00) on shares of Nabors Industries in a research note on Wednesday, September 13th.

Shares of Nabors Industries (NBR) traded up $0.11 during trading on Monday, hitting $5.79. The stock had a trading volume of 6,200,800 shares, compared to its average volume of 8,607,034. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $18.40.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.55) EPS. sell-side analysts predict that Nabors Industries will post -1.61 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend is Tuesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.

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Institutional investors have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. acquired a new stake in shares of Nabors Industries during the third quarter worth about $101,000. Wright Investors Service Inc. lifted its holdings in shares of Nabors Industries by 2.2% during the second quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 265 shares during the period. Frontier Wealth Management LLC lifted its holdings in shares of Nabors Industries by 11.4% during the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 1,284 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Nabors Industries during the third quarter worth about $115,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Nabors Industries during the third quarter worth about $121,000. 98.76% of the stock is 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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