Nabors Industries Receives Consensus Rating of “Buy” from Brokerages (NYSE:NBR)
Shares of Nabors Industries (NYSE:NBR) have received a consensus rating of “Buy” from the twenty-two brokerages that are currently covering the stock, American Banking News.com reports. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $29.07.
Nabors Industries (NYSE:NBR) opened at 28.63 on Wednesday. Nabors Industries has a one year low of $14.62 and a one year high of $30.24. The stock has a 50-day moving average of $28.0 and a 200-day moving average of $23.49. The company has a market cap of $8.516 billion and a P/E ratio of 95.02.
Nabors Industries (NYSE:NBR) last posted its quarterly 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 $1.18 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Global Hunter Securities raised their price target on shares of Nabors Industries from $24.00 to $31.00 in a research note on Wednesday. Separately, analysts at Susquehanna raised their price target on shares of Nabors Industries from $30.00 to $36.00 in a research note on Wednesday, July 2nd. Finally, analysts at Stephens upgraded shares of Nabors Industries from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 1st.
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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