Bank of America Corp. Reiterates “Hold” Rating for Nabors Industries (NBR)
Nabors Industries (NYSE:NBR)‘s stock had its “hold” rating reiterated by stock analysts at Bank of America Corp. in a report issued on Friday, American Banking and Market News reports. They currently have a $18.00 price target on the stock. Bank of America Corp.’s price target indicates a potential upside of 5.32% from the stock’s previous close.
NBR has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Nabors Industries from $17.00 to $16.00 in a research note to investors on Friday. They now have a “hold” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Nabors Industries from $17.00 to $19.00 in a research note to investors on Wednesday. They now have a “sector perform” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.20.
Shares of Nabors Industries (NYSE:NBR) traded down 0.29% during mid-day trading on Friday, hitting $17.09. 2,824,311 shares of the company’s stock traded hands. Nabors Industries has a 52-week low of $12.75 and a 52-week high of $18.24. The stock’s 50-day moving average is $16.30 and its 200-day moving average is $15.86. The company has a market cap of $5.042 billion and a price-to-earnings ratio of 25.47.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, July 23rd. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts predict that Nabors Industries will post $0.84 earnings per share for the current fiscal year.
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.