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Shares of Nabors Industries (NYSE:NBR) hit a new 52-week high during mid-day trading on Friday , AR Network reports. The company traded as high as $28.54 and last traded at $28.42, with a volume of 2,226,044 shares trading hands. The stock had previously closed at $27.85.

A number of analysts have recently weighed in on NBR shares. Analysts at Clarkson Capital initiated coverage on shares of Nabors Industries in a research note on Thursday. They set an “outperform” rating and a $38.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nabors Industries in a research note on Wednesday. They now have a $29.00 price target on the stock. Finally, analysts at Jefferies Group upgraded shares of Nabors Industries from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. They now have a $31.00 price target on the stock, up previously from $28.00. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.26.

The stock’s 50-day moving average is $26.19 and its 200-day moving average is $21.6. The company has a market cap of $8.471 billion and a P/E ratio of 91.91.

Nabors Industries (NYSE:NBR) last released its earnings data on Tuesday, April 22nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts predict that Nabors Industries will post $1.16 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.

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