Nabors Industries Ltd. (NYSE:NBR) – Equities research analysts at Seaport Global Securities decreased their Q4 2018 EPS estimates for shares of Nabors Industries in a research note issued on Thursday, November 1st. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will post earnings per share of ($0.28) for the quarter, down from their prior forecast of ($0.19). Seaport Global Securities currently has a “Buy” rating and a $11.00 price target on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q1 2019 earnings at ($0.26) EPS, Q2 2019 earnings at ($0.22) EPS, Q3 2019 earnings at ($0.14) EPS, Q4 2019 earnings at ($0.05) EPS and FY2019 earnings at ($0.67) EPS.
Several other analysts have also recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Bank of America started coverage on shares of Nabors Industries in a research report on Wednesday, October 17th. They set a “buy” rating for the company. Guggenheim reaffirmed a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Cowen reaffirmed a “buy” rating and set a $11.00 price objective on shares of Nabors Industries in a research report on Friday, October 12th. Finally, Wolfe Research started coverage on shares of Nabors Industries in a research report on Wednesday, October 10th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. Nabors Industries currently has a consensus rating of “Buy” and a consensus price target of $9.04.
Nabors Industries stock opened at $5.68 on Monday. Nabors Industries has a 1-year low of $4.49 and a 1-year high of $8.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.84. The company has a market capitalization of $1.94 billion, a PE ratio of -3.48 and a beta of 1.69.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.11). Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm had revenue of $779.43 million during the quarter, compared to analysts’ expectations of $800.78 million. During the same period last year, the company earned ($0.42) EPS. The business’s quarterly revenue was up 17.7% on a year-over-year basis.
Several large investors have recently bought and sold shares of NBR. NumerixS Investment Technologies Inc purchased a new position in Nabors Industries in the 2nd quarter valued at approximately $106,000. Signition LP purchased a new position in Nabors Industries in the 2nd quarter valued at approximately $133,000. FNY Investment Advisers LLC boosted its position in Nabors Industries by 19,946.4% in the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in Nabors Industries in the 2nd quarter valued at approximately $139,000. Finally, Vanguard Capital Wealth Advisors boosted its position in Nabors Industries by 147.1% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 17,800 shares during the period. 96.82% of the stock is owned by hedge funds and other institutional investors.
In related news, Director John Yearwood acquired 197,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $5.14 per share, with a total value of $1,012,580.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.15% of the company’s stock.
About Nabors Industries
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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