A number of research firms have changed their ratings and price targets for Nabors Industries (NYSE: NBR):

  • 9/19/2016 – Nabors Industries was upgraded by analysts at Capital One Financial Corp. from an “equal weight” rating to an “overweight” rating. They now have a $13.00 price target on the stock.
  • 9/15/2016 – Nabors Industries is now covered by analysts at DA Davidson. They set a “buy” rating and a $16.00 price target on the stock.
  • 9/13/2016 – Nabors Industries was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “With leading positions in most natural gas and oil-based shale plays, Nabors Industries is a big player in the North American land drilling market. The company continues to fare well on its aggressive cost-management techniques and strong performance by the international business segment. However, the road ahead is expected to be bumpy as Nabors' businesses are susceptible to the sharp slowdown in drilling activity levels, due to low oil and gas prices. In particular, the deteriorating North American market, with tumbling rig count, is bound to affect the revenue and utilization of the company. As such, we do not anticipate any significant upside in the near future and expect the stock to perform in line with the broader market.”
  • 9/12/2016 – Nabors Industries had its price target raised by analysts at Citigroup Inc. from $12.00 to $13.00. They now have a “buy” rating on the stock.
  • 8/19/2016 – Nabors Industries was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “With leading positions in most natural gas and oil-based shale plays, Nabors Industries is a big player in the North American land drilling market. The company has started disbursing a portion of its earnings in the form of dividend since 2013. This primarily reflects the strong financial condition of the energy equipment supplier. Moreover, the company continues to fare well on its aggressive cost-management techniques and strong performance by the international business segment. We appreciate Nabors’ focus on operating expense reduction, especially when U.S drilling rig count has touched a record low and there are possibilities of a decline in drilling activities going ahead. Consequently, we think that the company offers substantial upside potential from the current price levels.”
  • 8/16/2016 – Nabors Industries was given a new $8.00 price target on by analysts at Nomura. They now have a “hold” rating on the stock.
  • 8/9/2016 – Nabors Industries was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “With leading positions in most natural gas and oil-based shale plays, Nabors Industries is a big player in the North American land drilling market. The company has started disbursing a portion of its earnings in the form of dividend since 2013. This primarily reflects the strong financial condition of the energy equipment supplier. Moreover, the company continues to fare well on its aggressive cost-management techniques and strong performance by the international business segment. However, the road ahead is likely to be a bumpy one as the company anticipates a decline in drilling activities in the third and fourth quarter. As such, we do not anticipate any significant upside in the near future and expect the stock to perform in line with the broader market.”
  • 8/8/2016 – Nabors Industries was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $10.00 price target on the stock. According to Zacks, “With leading positions in most natural gas and oil-based shale plays, Nabors Industries is a big player in the North American land drilling market. The company has started disbursing a portion of its earnings in the form of dividend since 2013. This primarily reflects the strong financial condition of the energy equipment supplier. Moreover, the company continues to fare well on its aggressive cost-management techniques and strong performance by the international business segment. In fact, owing to the cost-control measures, the company has been able to report significantly narrower-than-expected loss in second-quarter 2016. Consequently, we think that the company offers substantial upside potential from the current price levels.”
  • 8/8/2016 – Nabors Industries had its “hold” rating reaffirmed by analysts at Jefferies Group. They now have a $10.00 price target on the stock, up previously from $9.00.
  • 8/8/2016 – Nabors Industries had its “neutral” rating reaffirmed by analysts at Simmons. They now have a $12.50 price target on the stock, up previously from $12.25.

Shares of Nabors Industries Ltd. (NYSE:NBR) traded up 2.634% on Wednesday, hitting $9.935. The company’s stock had a trading volume of 3,693,955 shares. The firm’s market cap is $2.82 billion. The company has a 50 day moving average of $9.85 and a 200 day moving average of $9.48. Nabors Industries Ltd. has a 1-year low of $4.93 and a 1-year high of $12.33.

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

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 13th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, September 9th. Nabors Industries’s payout ratio is -6.56%.

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

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