Nabors Industries Upgraded to Overweight at Stephens (NBR)
Nabors Industries (NYSE:NBR) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports.
Nabors Industries (NYSE:NBR) opened at 29.37 on Tuesday. Nabors Industries has a 52-week low of $14.50 and a 52-week high of $29.90. The stock’s 50-day moving average is $26.72 and its 200-day moving average is $22.31. The company has a market cap of $8.736 billion and a price-to-earnings ratio of 95.41.
Nabors Industries (NYSE:NBR) last announced its earnings results 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.
A number of other firms have also recently commented on NBR. Analysts at Raymond James upgraded shares of Nabors Industries from a “market perform” rating to an “outperform” rating in a research note on Tuesday. They now have a $35.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Nabors Industries from $33.00 to $35.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Guggenheim upgraded shares of Nabors Industries from a “sell” rating to a “neutral” rating in a research note on Thursday, June 26th. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $26.44.
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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