Equities analysts expect Nabors Industries Ltd. (NYSE:NBR) to report sales of $667.03 million for the current quarter, according to Zacks. Six analysts have made estimates for Nabors Industries’ earnings, with the highest sales estimate coming in at $693.83 million and the lowest estimate coming in at $614.00 million. Nabors Industries reported sales of $520.04 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 28.3%. The firm is expected to issue its next earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Nabors Industries will report full year sales of $667.03 million for the current fiscal year, with estimates ranging from $2.40 billion to $2.64 billion. For the next year, analysts expect that the firm will post sales of $3.27 billion per share, with estimates ranging from $3.01 billion to $3.73 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Nabors Industries.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by $0.03. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. During the same quarter in the previous year, the company posted ($0.35) EPS. The business’s revenue was up 21.9% on a year-over-year basis.

A number of research firms have issued reports on NBR. BMO Capital Markets set a $13.00 price target on Nabors Industries and gave the company a “hold” rating in a research note on Saturday, May 6th. Credit Suisse Group set a $18.00 price target on Nabors Industries and gave the company a “buy” rating in a research note on Sunday, April 30th. Morgan Stanley cut their price target on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Monday. Seaport Global Securities reiterated a “neutral” rating on shares of Nabors Industries in a research note on Friday. Finally, Cowen and Company cut their price target on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eighteen have issued a buy rating to the company. Nabors Industries has an average rating of “Buy” and a consensus price target of $14.54.

In other Nabors Industries news, CFO William J. Restrepo bought 22,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $8.25 per share, with a total value of $181,500.00. Following the acquisition, the chief financial officer now directly owns 959,694 shares of the company’s stock, valued at approximately $7,917,475.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Nabors Industries by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 100,193 shares of the oil and gas company’s stock worth $1,310,000 after buying an additional 1,400 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Nabors Industries by 293.5% in the first quarter. Russell Investments Group Ltd. now owns 1,449,929 shares of the oil and gas company’s stock worth $18,948,000 after buying an additional 1,081,463 shares during the last quarter. Strs Ohio boosted its stake in shares of Nabors Industries by 77.0% in the first quarter. Strs Ohio now owns 1,843,000 shares of the oil and gas company’s stock worth $24,088,000 after buying an additional 802,000 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of Nabors Industries by 83.1% in the first quarter. Shell Asset Management Co. now owns 87,067 shares of the oil and gas company’s stock worth $1,138,000 after buying an additional 39,520 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Nabors Industries by 99.8% in the first quarter. Glen Harbor Capital Management LLC now owns 16,560 shares of the oil and gas company’s stock worth $216,000 after buying an additional 8,272 shares during the last quarter. 98.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of Nabors Industries (NBR) opened at 7.05 on Tuesday. Nabors Industries has a 12-month low of $6.93 and a 12-month high of $18.40. The company’s market cap is $1.97 billion. The company’s 50-day moving average price is $7.87 and its 200 day moving average price is $11.58.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.40%. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.

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Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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