Nabors Industries Given New $21.00 Price Target at Cowen and Company (NBR)
Stock analysts at Cowen and Company increased their price objective on shares of Nabors Industries (NYSE:NBR) from $19.00 to $21.00 in a report issued on Thursday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price objective would suggest a potential upside of 25.82% from the company’s current price.
Shares of Nabors Industries (NYSE:NBR) traded down 1.01% on Thursday, hitting $16.69. The stock had a trading volume of 5,415,984 shares. Nabors Industries has a 1-year low of $12.75 and a 1-year high of $18.24. The stock has a 50-day moving average of $15.69 and a 200-day moving average of $15.81. The company has a market cap of $4.924 billion and a P/E ratio of 25.05.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was down 10.4% on a year-over-year basis.
A number of other firms have also recently commented on NBR. Analysts at Deutsche Bank raised their price target on shares of Nabors Industries from $23.00 to $27.00 in a research note to investors on Thursday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Nabors Industries from $18.00 to $21.00 in a research note to investors on Wednesday, October 16th. They now have a “positive” rating on the stock. Finally, analysts at Bank of America Corp. reiterated a “hold” rating on shares of Nabors Industries in a research note to investors on Friday, October 11th. They now have a $18.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $17.88.
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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