Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Jefferies Group lifted their Q1 2018 earnings estimates for Nabors Industries in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn ($0.29) per share for the quarter, up from their previous forecast of ($0.32). Jefferies Group currently has a “Buy” rating and a $9.00 target price on the stock. Jefferies Group also issued estimates for Nabors Industries’ Q2 2018 earnings at ($0.27) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.19) EPS, FY2018 earnings at ($1.00) EPS, FY2019 earnings at ($0.35) EPS and FY2020 earnings at $0.35 EPS.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same period last year, the business earned ($0.55) earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year.
A number of other research firms also recently commented on NBR. Citigroup set a $10.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 5th. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. BMO Capital Markets set a $6.00 target price on Nabors Industries and gave the company a “hold” rating in a research report on Friday, October 27th. Cowen set a $11.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. downgraded Nabors Industries from an “overweight” rating to a “hold” rating and set a $9.00 target price for the company. in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Nabors Industries presently has an average rating of “Buy” and an average price target of $10.67.
Shares of Nabors Industries (NBR) traded down $0.05 on Monday, reaching $8.18. 4,096,105 shares of the company’s stock were exchanged, compared to its average volume of 14,829,110. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $17.92. The stock has a market cap of $2,570.00, a price-to-earnings ratio of -3.05 and a beta of 1.59.
A number of institutional investors and hedge funds have recently modified their holdings of NBR. Prudential Financial Inc. lifted its position in Nabors Industries by 278.9% in the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after buying an additional 2,915,370 shares during the last quarter. Victory Capital Management Inc. lifted its position in Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after buying an additional 2,354,975 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after buying an additional 2,243,068 shares during the last quarter. FMR LLC lifted its position in Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after buying an additional 2,118,198 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in Nabors Industries by 47.5% in the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock worth $32,637,000 after buying an additional 1,302,284 shares during the last quarter. Institutional investors own 87.79% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were given a $0.06 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 2.94%. Nabors Industries’s dividend payout ratio is presently -8.96%.
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About Nabors Industries
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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