Nabors Industries Price Target Increased to $19.00 by Analysts at RBC Capital (NBR)
Equities research analysts at RBC Capital upped their target price on shares of Nabors Industries (NYSE:NBR) from $17.00 to $19.00 in a research note issued to investors on Wednesday, American Banking News.com reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential upside of 13.30% from the stock’s previous close.
Nabors Industries (NYSE:NBR) traded down 0.12% during mid-day trading on Wednesday, hitting $16.77. The stock had a trading volume of 3,708,152 shares. Nabors Industries has a 52 week low of $12.75 and a 52 week high of $18.24. The stock has a 50-day moving average of $16.17 and a 200-day moving average of $15.. The company has a market cap of $4.948 billion and a P/E ratio of 24.95.
Nabors Industries (NYSE:NBR) last released its 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. On average, analysts predict that Nabors Industries will post $0.83 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Bank of America Corp. initiated coverage on shares of Nabors Industries in a research note to investors on Thursday, September 26th. They set a “neutral” rating and a $18.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Nabors Industries from $14.00 to $18.00 in a research note to investors on Thursday, August 22nd. They now have a “neutral” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. Nabors Industries has a consensus rating of “Hold” and a consensus price target of $17.27.
Nabors Industries Ltd. (NYSE:NBR) is the land drilling contractor and land well-servicing and workover contractors in the United States and Canada.
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