Nabors Industries PT Raised to $18.00 (NBR)
Research analysts at UBS AG boosted their target price on shares of Nabors Industries (NYSE:NBR) from $14.00 to $18.00 in a report released on Thursday, American Banking News reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price would indicate a potential upside of 13.71% from the stock’s previous close.
Nabors Industries (NYSE:NBR) traded down 0.44% on Thursday, hitting $15.83. 2,064,824 shares of the company’s stock traded hands. Nabors Industries has a one year low of $12.75 and a one year high of $18.24. The stock’s 50-day moving average is $15.44 and its 200-day moving average is $15.90. The company has a market cap of $4.671 billion and a price-to-earnings ratio of 23.63.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.08 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.09 by $0.01. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the company posted $0.38 earnings per share. Nabors Industries’s revenue was down 6.2% compared to the same quarter last year. Analysts expect that Nabors Industries will post $0.83 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Nabors Industries in a research note to investors on Friday, August 16th. They now have a $16.00 price target on the stock. Separately, analysts at Credit Suisse reiterated a “sell” rating on shares of Nabors Industries in a research note to investors on Thursday, July 25th. They now have a $12.00 price target on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Nabors Industries from $15.00 to $17.00 in a research note to investors on Thursday, July 25th. They now have a “hold” rating on the stock.
Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Nabors Industries presently has a consensus rating of “Hold” and an average price target of $17.00.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 27th. Stockholders of record on Friday, September 6th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Wednesday, September 4th.
Nabors Industries Ltd. (NYSE:NBR) is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.