Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Jefferies Financial Group decreased their Q2 2019 earnings per share (EPS) estimates for Nabors Industries in a note issued to investors on Wednesday, May 1st. Jefferies Financial Group analyst B. Handler now forecasts that the oil and gas company will earn ($0.28) per share for the quarter, down from their prior estimate of ($0.22). Jefferies Financial Group also issued estimates for Nabors Industries’ Q3 2019 earnings at ($0.24) EPS, Q4 2019 earnings at ($0.14) EPS and FY2019 earnings at ($1.00) EPS.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). The firm had revenue of $809.31 million for the quarter, compared to analysts’ expectations of $774.35 million. Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.46) EPS.
A number of other brokerages have also recently commented on NBR. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Susquehanna Bancshares cut Nabors Industries from a “positive” rating to a “neutral” rating in a research report on Wednesday, January 9th. Argus cut Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Goldman Sachs Group initiated coverage on Nabors Industries in a research report on Sunday, March 10th. They issued a “neutral” rating and a $4.00 price target for the company. Finally, Citigroup cut Nabors Industries from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Nabors Industries currently has an average rating of “Hold” and a consensus price target of $7.13.
Nabors Industries stock opened at $3.81 on Monday. The firm has a market cap of $1.55 billion, a P/E ratio of -3.02 and a beta of 2.28. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.11 and a quick ratio of 1.89. Nabors Industries has a one year low of $1.81 and a one year high of $8.86.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of Nabors Industries by 921.4% in the first quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 6,837 shares during the period. Traynor Capital Management Inc. bought a new position in shares of Nabors Industries in the first quarter worth about $39,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Nabors Industries in the fourth quarter worth about $25,000. GWM Advisors LLC bought a new position in shares of Nabors Industries in the fourth quarter worth about $27,000. Finally, Hellman Jordan Management Co. Inc. MA bought a new position in shares of Nabors Industries in the fourth quarter worth about $28,000. 75.45% of the stock is owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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