Jefferies Financial Group restated their buy rating on shares of Nabors Industries (NYSE:NBR) in a research report report published on Tuesday morning. Jefferies Financial Group currently has a $8.00 target price on the oil and gas company’s stock. Jefferies Financial Group also issued estimates for Nabors Industries’ FY2020 earnings at $0.35 EPS, FY2021 earnings at $0.75 EPS and FY2022 earnings at $1.10 EPS.
NBR has been the topic of a number of other reports. Guggenheim reiterated a buy rating and issued a $11.00 price objective on shares of Nabors Industries in a report on Friday, October 12th. Morgan Stanley upgraded shares of Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 price objective on the stock in a report on Thursday, July 12th. Bank of America initiated coverage on shares of Nabors Industries in a report on Wednesday, October 17th. They issued a buy rating on the stock. Wolfe Research initiated coverage on shares of Nabors Industries in a report on Wednesday, October 10th. They issued an outperform rating on the stock. Finally, BMO Capital Markets lowered their price objective on shares of Nabors Industries from $7.50 to $6.50 and set a market perform rating on the stock in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Nabors Industries currently has an average rating of Buy and an average target price of $8.96.
NBR stock traded up $0.18 during mid-day trading on Tuesday, hitting $5.74. 101,589 shares of the company were exchanged, compared to its average volume of 13,840,411. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.84 and a current ratio of 2.05. The company has a market capitalization of $1.94 billion, a P/E ratio of -3.57 and a beta of 1.69. Nabors Industries has a 1-year low of $4.49 and a 1-year high of $8.86.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.11). The company had revenue of $779.43 million for the quarter, compared to analyst estimates of $800.78 million. Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The business’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.42) earnings per share. Analysts forecast that Nabors Industries will post -1.1 earnings per share for the current year.
In other news, Director John Yearwood bought 197,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were acquired at an average cost of $5.14 per share, for a total transaction of $1,012,580.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.15% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. NumerixS Investment Technologies Inc acquired a new position in Nabors Industries during the second quarter worth $106,000. Signition LP acquired a new position in Nabors Industries during the second quarter worth $133,000. FNY Investment Advisers LLC increased its holdings in Nabors Industries by 19,946.4% during the third quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock worth $135,000 after buying an additional 21,941 shares during the last quarter. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries during the second quarter worth $139,000. Finally, Vanguard Capital Wealth Advisors increased its holdings in Nabors Industries by 147.1% during the third quarter. Vanguard Capital Wealth Advisors now owns 29,900 shares of the oil and gas company’s stock worth $184,000 after buying an additional 17,800 shares during the last quarter. Institutional investors and hedge funds own 96.82% 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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