Nabors Industries Receives Average Recommendation of “Buy” from Analysts (NYSE:NBR)
Nabors Industries (NYSE:NBR) has earned an average recommendation of “Buy” from the twenty ratings firms that are presently covering the stock, Analyst Ratings Network.com reports. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $31.00.
A number of research firms have recently commented on NBR. Analysts at Global Hunter Securities raised their price target on shares of Nabors Industries to $32.00 in a research note on Monday, July 28th. Separately, analysts at Cowen and Company raised their price target on shares of Nabors Industries from $26.00 to $31.00 in a research note on Friday, July 25th. They now have a “market perform” rating on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Nabors Industries in a research note on Thursday, July 24th. They now have a $37.00 price target on the stock, up previously from $35.00.
Nabors Industries (NYSE:NBR) opened at 25.72 on Tuesday. Nabors Industries has a 1-year low of $15.21 and a 1-year high of $30.24. The stock’s 50-day moving average is $27.68 and its 200-day moving average is $25.41. The company has a market cap of $7.709 billion and a P/E ratio of 49.18.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, July 22nd. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.23 by $0.01. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted $0.08 earnings per share. Nabors Industries’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Nabors Industries will post $1.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, September 5th. This is an increase from Nabors Industries’s previous quarterly dividend of $0.04.
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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