Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Piper Jaffray Companies dropped their Q4 2018 EPS estimates for Nabors Industries in a note issued to investors on Tuesday, January 8th. Piper Jaffray Companies analyst J. Daniel now expects that the oil and gas company will post earnings of ($0.14) per share for the quarter, down from their prior forecast of ($0.13). Piper Jaffray Companies has a “Hold” rating and a $7.00 price objective on the stock. Piper Jaffray Companies also issued estimates for Nabors Industries’ Q1 2019 earnings at ($0.22) EPS, Q2 2019 earnings at ($0.22) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS, Q1 2020 earnings at ($0.13) EPS, Q2 2020 earnings at ($0.10) EPS, Q3 2020 earnings at ($0.06) EPS, Q4 2020 earnings at $0.00 EPS and FY2020 earnings at ($0.28) EPS.
Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The firm had revenue of $779.43 million during the quarter, compared to analyst estimates of $800.78 million. During the same period in the previous year, the company earned ($0.42) EPS. Nabors Industries’s revenue for the quarter was up 17.7% on a year-over-year basis.
Shares of NBR opened at $2.82 on Friday. Nabors Industries has a 12-month low of $1.81 and a 12-month high of $8.86. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -1.73 and a beta of 1.95.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 3rd. Investors of record on Thursday, December 13th were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 8.51%. Nabors Industries’s payout ratio is -14.72%.
In other Nabors Industries news, Director John Yearwood bought 197,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The shares were bought at an average price of $5.14 per share, for a total transaction of $1,012,580.00. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director John P. Kotts bought 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $5.61 per share, for a total transaction of $561,000.00. Following the transaction, the director now owns 301,949 shares in the company, valued at $1,693,933.89. The disclosure for this purchase can be found here. 4.15% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NBR. BlackRock Inc. boosted its position in shares of Nabors Industries by 12.3% during the 2nd quarter. BlackRock Inc. now owns 31,330,733 shares of the oil and gas company’s stock valued at $200,829,000 after purchasing an additional 3,443,863 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Nabors Industries by 26.0% in the third quarter. Deprince Race & Zollo Inc. now owns 6,106,150 shares of the oil and gas company’s stock worth $37,614,000 after acquiring an additional 1,261,551 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Nabors Industries by 197.0% in the third quarter. Renaissance Technologies LLC now owns 1,168,818 shares of the oil and gas company’s stock worth $7,200,000 after acquiring an additional 775,338 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Nabors Industries by 32.8% in the third quarter. Russell Investments Group Ltd. now owns 2,517,201 shares of the oil and gas company’s stock worth $15,497,000 after acquiring an additional 622,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Nabors Industries by 2.1% in the third quarter. Dimensional Fund Advisors LP now owns 27,153,177 shares of the oil and gas company’s stock worth $167,261,000 after acquiring an additional 549,820 shares in the last quarter. Institutional investors own 88.88% of the company’s stock.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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