Equities Analysts Set Expectations for Nabors Industries Ltd.’s FY2020 Earnings (NBR)

Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Capital One Financial issued their FY2020 earnings estimates for shares of Nabors Industries in a report issued on Wednesday, October 31st. Capital One Financial analyst L. Lemoine anticipates that the oil and gas company will post earnings of $0.44 per share for the year.

Other equities research analysts also recently issued reports about the stock. Guggenheim restated a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a report on Friday, October 12th. Cowen restated a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a report on Friday, October 12th. Seaport Global Securities restated a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a report on Thursday, August 2nd. Citigroup lowered their target price on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, July 11th. Finally, Societe Generale upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $9.04.

Nabors Industries stock opened at $5.44 on Monday. Nabors Industries has a 1 year low of $4.49 and a 1 year high of $8.86. The company has a market capitalization of $1.94 billion, a P/E ratio of -3.34 and a beta of 1.69. The company has a quick ratio of 1.84, a current ratio of 2.05 and a debt-to-equity ratio of 1.26.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.11). The firm had revenue of $779.43 million during the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.42) EPS.

In other Nabors Industries news, Director John Yearwood acquired 197,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was bought at an average cost of $5.14 per share, for a total transaction of $1,012,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.15% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NBR. Russell Investments Group Ltd. grew its stake in Nabors Industries by 415.2% during the first quarter. Russell Investments Group Ltd. now owns 181,869 shares of the oil and gas company’s stock worth $1,272,000 after buying an additional 146,565 shares during the period. Legal & General Group Plc grew its stake in Nabors Industries by 1.3% during the first quarter. Legal & General Group Plc now owns 668,484 shares of the oil and gas company’s stock worth $4,673,000 after buying an additional 8,486 shares during the period. Principal Financial Group Inc. grew its stake in Nabors Industries by 2.1% during the first quarter. Principal Financial Group Inc. now owns 1,335,743 shares of the oil and gas company’s stock worth $9,337,000 after buying an additional 28,113 shares during the period. DnB Asset Management AS grew its stake in Nabors Industries by 34.1% during the second quarter. DnB Asset Management AS now owns 55,000 shares of the oil and gas company’s stock worth $353,000 after buying an additional 14,000 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in Nabors Industries by 55.4% during the second quarter. State of Alaska Department of Revenue now owns 37,720 shares of the oil and gas company’s stock worth $241,000 after buying an additional 13,450 shares during the period. Institutional investors own 96.55% 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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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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