Several analysts have recently updated their ratings and price targets for Nabors Industries (NYSE: NBR):

  • 9/13/2017 – Nabors Industries had its price target lowered by analysts at Citigroup Inc. from $9.00 to $8.00. They now have a “buy” rating on the stock.
  • 9/11/2017 – Nabors Industries was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Nabors Industries is one of the market leaders in the North American land drilling market and is well positioned with a sound mix of high performance rigs and new rigs working in the key shale plays. As it is, the company is poised to grow on the OPEC output- cut deal which is expected to improve the crude prices and thus spur the drilling activities. The company’s recent acquisition of Tesco is expected to prove immediately accretive to its earnings and result into various synergies. However, Nabors’ high leverage along with rising operating and direct costs pose risk. We also need to factor the company’s poor earnings surprise history and unfavorable return on equity. All these are also reflected in the dismal price performance of the company which have tumbled more than 60% year-to-date. Therefore, until the commodity price environment strengthens, we maintain a cautious stance on the stock.”
  • 9/7/2017 – Nabors Industries had its “neutral” rating reaffirmed by analysts at Jefferies Group LLC.
  • 9/6/2017 – Nabors Industries had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $12.50 price target on the stock.
  • 9/6/2017 – Nabors Industries had its “hold” rating reaffirmed by analysts at BMO Capital Markets. They now have a $8.00 price target on the stock.
  • 9/1/2017 – Nabors Industries was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 8/31/2017 – Nabors Industries is now covered by analysts at Societe Generale. They set a “hold” rating and a $7.00 price target on the stock.
  • 8/18/2017 – Nabors Industries was upgraded by analysts at Seaport Global Securities from a “neutral” rating to a “buy” rating. They now have a $8.00 price target on the stock.
  • 8/15/2017 – Nabors Industries was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $10.00 price target on the stock.
  • 8/10/2017 – Nabors Industries was given a new $9.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 8/9/2017 – Nabors Industries was given a new $12.00 price target on by analysts at Nomura. They now have a “buy” rating on the stock.
  • 8/9/2017 – Nabors Industries had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $9.00 price target on the stock, down previously from $10.00.
  • 8/8/2017 – Nabors Industries had its price target lowered by analysts at Cowen and Company from $13.00 to $10.50. They now have an “outperform” rating on the stock.
  • 8/7/2017 – Nabors Industries had its price target lowered by analysts at Morgan Stanley from $10.00 to $9.00. They now have an “equal weight” rating on the stock.
  • 8/4/2017 – Nabors Industries had its “neutral” rating reaffirmed by analysts at Seaport Global Securities.
  • 8/4/2017 – Nabors Industries was given a new $8.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 7/28/2017 – Nabors Industries was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.

Shares of Nabors Industries Ltd. (NYSE:NBR) opened at 7.23 on Thursday. The company’s market cap is $2.07 billion. Nabors Industries Ltd. has a 12-month low of $6.18 and a 12-month high of $18.40. The company’s 50-day moving average price is $6.97 and its 200 day moving average price is $9.65.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. During the same period in the previous year, the business posted ($0.35) EPS. Nabors Industries’s revenue was up 21.9% compared to the same quarter last year. Equities analysts predict that Nabors Industries Ltd. will post ($1.50) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.32%. Nabors Industries’s payout ratio is -9.41%.

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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