FY2024 Earnings Estimate for Nabors Industries Ltd. (NYSE:NBR) Issued By Zacks Research

Nabors Industries Ltd. (NYSE:NBR) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Nabors Industries in a research note issued to investors on Wednesday, March 27th. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings per share of ($8.08) for the year, up from their previous estimate of ($8.10). The consensus estimate for Nabors Industries’ current full-year earnings is ($4.30) per share. Zacks Research also issued estimates for Nabors Industries’ Q1 2025 earnings at ($0.71) EPS, Q2 2025 earnings at $0.05 EPS, Q3 2025 earnings at ($0.35) EPS, Q4 2025 earnings at $5.73 EPS and FY2025 earnings at $4.72 EPS.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). The firm had revenue of $737.84 million during the quarter, compared to analysts’ expectations of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%.

NBR has been the topic of several other research reports. Benchmark lowered Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Atb Cap Markets downgraded shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. StockNews.com cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Morgan Stanley lowered their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Finally, Susquehanna reissued a “neutral” rating and set a $88.00 target price on shares of Nabors Industries in a research note on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $129.60.

Nabors Industries Trading Down 2.1 %

NBR stock opened at $86.13 on Friday. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. Nabors Industries has a twelve month low of $71.42 and a twelve month high of $141.47. The company’s 50 day moving average is $82.97 and its two-hundred day moving average is $93.39.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Nabors Industries during the 1st quarter worth $25,000. US Bancorp DE increased its stake in shares of Nabors Industries by 72.1% during the 2nd quarter. US Bancorp DE now owns 389 shares of the oil and gas company’s stock worth $36,000 after purchasing an additional 163 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Nabors Industries by 89.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 267 shares during the last quarter. State of Wyoming grew its holdings in Nabors Industries by 55.6% during the 4th quarter. State of Wyoming now owns 585 shares of the oil and gas company’s stock valued at $91,000 after buying an additional 209 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Nabors Industries by 202.4% during the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after buying an additional 502 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.