Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for Nabors Industries in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will earn ($1.66) per share for the year, down from their prior estimate of ($1.55). SunTrust Banks has a “Buy” rating and a $9.00 price objective on the stock. SunTrust Banks also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.33) EPS, Q1 2018 earnings at ($0.27) EPS, Q2 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.83) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.04) EPS and FY2019 earnings at ($0.22) EPS.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). The company 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 revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the company posted ($0.55) EPS.
A number of other research firms have also weighed in on NBR. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Citigroup set a $10.00 price objective on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. Guggenheim raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, August 15th. Zacks Investment Research lowered Nabors Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, BMO Capital Markets set a $6.00 price target on Nabors Industries and gave the stock a “hold” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $11.07.
Shares of Nabors Industries (NBR) opened at $6.04 on Friday. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.40. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.97%. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.
A number of institutional investors and hedge funds have recently bought and sold shares of NBR. Capstone Asset Management Co. raised its holdings in Nabors Industries by 0.9% in the second quarter. Capstone Asset Management Co. now owns 23,571 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 220 shares in the last quarter. Aperio Group LLC raised its holdings in Nabors Industries by 30.2% in the second quarter. Aperio Group LLC now owns 126,989 shares of the oil and gas company’s stock worth $1,034,000 after purchasing an additional 29,450 shares in the last quarter. ING Groep NV bought a new position in Nabors Industries in the second quarter worth $283,000. Texas Permanent School Fund raised its holdings in Nabors Industries by 1.0% in the second quarter. Texas Permanent School Fund now owns 208,665 shares of the oil and gas company’s stock worth $1,699,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Arizona State Retirement System raised its holdings in Nabors Industries by 1.5% in the second quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock worth $981,000 after purchasing an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 97.71% of the company’s stock.
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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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