Analysts predict that Nabors Industries Ltd. (NYSE:NBR) will post ($0.33) earnings per share for the current quarter, according to Zacks. Eight analysts have provided estimates for Nabors Industries’ earnings, with the lowest EPS estimate coming in at ($0.37) and the highest estimate coming in at ($0.27). Nabors Industries posted earnings per share of ($0.35) during the same quarter last year, which indicates a positive year-over-year growth rate of 5.7%. The firm is expected to announce its next earnings results after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($1.47) per share for the current financial year, with EPS estimates ranging from ($1.59) to ($1.36). For the next fiscal year, analysts expect that the firm will report earnings of ($0.62) per share, with EPS estimates ranging from ($0.90) to $0.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The company had revenue of $630.50 million during the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.35) EPS.
Several analysts recently commented on the stock. ValuEngine downgraded shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Cowen and Company reduced their price target 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. Morgan Stanley reduced their price target on shares of Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. Citigroup Inc. set a $10.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, Wells Fargo & Company downgraded shares of Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.05.
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A number of hedge funds and other institutional investors have recently modified their holdings of NBR. UBS Asset Management Americas Inc. grew its stake in Nabors Industries by 1.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 335,523 shares of the oil and gas company’s stock valued at $4,385,000 after acquiring an additional 6,122 shares during the last quarter. M&T Bank Corp grew its stake in Nabors Industries by 6.1% in the 1st quarter. M&T Bank Corp now owns 15,395 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 885 shares during the last quarter. OppenheimerFunds Inc. grew its stake in Nabors Industries by 112.0% in the 1st quarter. OppenheimerFunds Inc. now owns 65,917 shares of the oil and gas company’s stock valued at $862,000 after acquiring an additional 34,831 shares during the last quarter. Wellington Management Group LLP grew its stake in Nabors Industries by 112.9% in the 1st quarter. Wellington Management Group LLP now owns 531,026 shares of the oil and gas company’s stock valued at $6,941,000 after acquiring an additional 281,641 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Nabors Industries by 4.3% in the 1st quarter. Legal & General Group Plc now owns 548,180 shares of the oil and gas company’s stock valued at $7,164,000 after acquiring an additional 22,791 shares during the last quarter. 95.55% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries (NBR) traded down 4.031% during mid-day trading on Thursday, hitting $6.785. 5,794,254 shares of the stock were exchanged. The firm’s market cap is $1.94 billion. Nabors Industries has a 52-week low of $6.18 and a 52-week high of $18.40. The company has a 50 day moving average price of $7.44 and a 200 day moving average price of $8.59.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a $0.06 dividend. The ex-dividend date was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a yield of 3.39%. Nabors Industries’s payout ratio is -9.41%.
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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