Nabors Industries Ltd. (NYSE:NBR) has been assigned an average recommendation of “Buy” from the twenty-eight research firms that are presently covering the stock. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.63.

Several equities analysts have recently commented on NBR shares. Zacks Investment Research raised Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Friday, August 19th. Nomura set a $8.00 target price on Nabors Industries and gave the company a “hold” rating in a research report on Tuesday, August 16th. Stephens raised Nabors Industries from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 12th. Seaport Global Securities raised Nabors Industries from a “neutral” rating to a “buy” rating in a research report on Friday, July 8th. Finally, Jefferies Group reissued a “hold” rating and set a $10.00 price target (up previously from $9.00) on shares of Nabors Industries in a research report on Monday, August 8th.

Shares of Nabors Industries (NYSE:NBR) traded up 0.62% during trading on Tuesday, reaching $9.71. The company’s stock had a trading volume of 4,599,935 shares. The company’s market cap is $2.75 billion. Nabors Industries has a 52-week low of $4.93 and a 52-week high of $12.33. The firm’s 50-day moving average is $9.82 and its 200 day moving average is $9.47.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/nabors-industries-ltd-nysenbr-receives-average-rating-of-buy-from-analysts.html

Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.19. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The company had revenue of $571.60 million for the quarter, compared to the consensus estimate of $497.83 million. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The firm’s revenue for the quarter was down 40.1% on a year-over-year basis. On average, equities research analysts predict that Nabors Industries will post ($1.22) EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.49%. Nabors Industries’s payout ratio is currently -6.56%.

A number of hedge funds have recently modified their holdings of the company. Shoker Investment Counsel Inc. increased its stake in shares of Nabors Industries by 0.4% in the second quarter. Shoker Investment Counsel Inc. now owns 26,957 shares of the company’s stock worth $270,000 after buying an additional 119 shares during the last quarter. World Asset Management Inc increased its stake in shares of Nabors Industries by 3.3% in the second quarter. World Asset Management Inc now owns 19,609 shares of the company’s stock valued at $197,000 after buying an additional 622 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Nabors Industries by 0.7% in the second quarter. State Treasurer State of Michigan now owns 113,163 shares of the company’s stock valued at $1,137,000 after buying an additional 800 shares in the last quarter. Commonwealth Equity Services Inc increased its stake in shares of Nabors Industries by 3.8% in the second quarter. Commonwealth Equity Services Inc now owns 36,313 shares of the company’s stock valued at $365,000 after buying an additional 1,341 shares in the last quarter. Finally, Oak Associates Ltd. OH increased its stake in shares of Nabors Industries by 0.8% in the first quarter. Oak Associates Ltd. OH now owns 217,410 shares of the company’s stock valued at $2,000,000 after buying an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 93.07% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

5 Day Chart for NYSE:NBR

Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.