Nabors Industries Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:NBR)
Shares of Nabors Industries (NYSE:NBR) have been given a consensus recommendation of “Buy” by the twenty ratings firms that are covering the stock, AnalystRatingsNetwork reports. Five 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 covered the stock in the last year is $31.00.
Shares of Nabors Industries (NYSE:NBR) opened at 27.21 on Tuesday. Nabors Industries has a one year low of $15.21 and a one year high of $30.24. The stock’s 50-day moving average is $27.39 and its 200-day moving average is $25.56. The company has a market cap of $8.156 billion and a P/E ratio of 50.21.
Nabors Industries (NYSE:NBR) last posted its quarterly 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 0.88%. The ex-dividend date is Friday, September 5th. This is a boost from Nabors Industries’s previous quarterly dividend of $0.04.
A number of analysts have recently weighed in on NBR shares. 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 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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