Nabors Industries Ltd. (NBR) Forecasted to Earn Q3 2016 Earnings of ($0.38) Per Share
Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Capital One Financial Corp. boosted their Q3 2016 earnings per share (EPS) estimates for Nabors Industries in a research report issued to clients and investors on Monday. Capital One Financial Corp. analyst L. Lemoine now anticipates that the firm will earn ($0.38) per share for the quarter, up from their prior forecast of ($0.40). Capital One Financial Corp. currently has a “Overweight” rating and a $13.00 price objective on the stock. Capital One Financial Corp. also issued estimates for Nabors Industries’ Q4 2016 earnings at ($0.38) EPS, Q1 2017 earnings at ($0.29) EPS, Q2 2017 earnings at ($0.26) EPS, Q3 2017 earnings at ($0.19) EPS, Q4 2017 earnings at ($0.16) EPS, FY2017 earnings at ($0.90) EPS and FY2018 earnings at ($0.07) EPS.
Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, August 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.19. Nabors Industries had a negative net margin of 39.78% and a negative return on equity of 6.31%. The company earned $571.60 million during the quarter, compared to the consensus estimate of $497.83 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The company’s revenue was down 40.1% compared to the same quarter last year.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Nabors Industries from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Monday, August 8th. Seaport Global Securities upgraded shares of Nabors Industries from a “neutral” rating to a “buy” rating in a report on Friday, July 8th. Citigroup Inc. boosted their price objective on shares of Nabors Industries from $12.00 to $13.00 and gave the company a “buy” rating in a report on Monday, September 12th. DA Davidson began coverage on shares of Nabors Industries in a report on Thursday, September 15th. They set a “buy” rating and a $16.00 price objective for the company. Finally, Jefferies Group restated a “hold” rating and set a $10.00 price objective (up previously from $9.00) on shares of Nabors Industries in a report on Monday, August 8th. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $11.56.
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Nabors Industries (NYSE:NBR) traded up 3.874% during midday trading on Wednesday, reaching $10.055. 3,189,500 shares of the company’s stock were exchanged. Nabors Industries has a 1-year low of $4.93 and a 1-year high of $12.33. The firm’s 50-day moving average is $9.85 and its 200 day moving average is $9.48. The stock’s market cap is $2.85 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, September 9th. Nabors Industries’s payout ratio is presently -6.56%.
Several institutional investors have recently modified their holdings of the stock. Seven Eight Capital LLC acquired a new position in Nabors Industries during the first quarter valued at approximately $118,000. Janney Montgomery Scott LLC acquired a new position in Nabors Industries during the second quarter valued at approximately $150,000. LS Investment Advisors LLC increased its position in Nabors Industries by 77.7% in the second quarter. LS Investment Advisors LLC now owns 16,763 shares of the company’s stock valued at $168,000 after buying an additional 7,332 shares during the period. Brave Asset Management Inc increased its position in Nabors Industries by 36.2% in the second quarter. Brave Asset Management Inc now owns 18,800 shares of the company’s stock valued at $189,000 after buying an additional 5,000 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in Nabors Industries during the first quarter valued at approximately $195,000. 93.06% of the stock is currently owned by institutional investors.
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.
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