Nabors Industries Ltd. (NBR) Rating Reiterated by SunTrust Banks, Inc.
Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “buy” rating reiterated by investment analysts at SunTrust Banks, Inc. in a research report issued on Tuesday. They currently have a $9.00 target price on the oil and gas company’s stock, down from their prior target price of $20.00. SunTrust Banks, Inc.’s price target would suggest a potential upside of 15.38% from the stock’s current price.
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Nabors Industries from a “sell” rating to a “hold” rating in a report on Monday, September 11th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Wells Fargo & Company lowered Nabors Industries from an “outperform” rating to a “market perform” rating in a research report on Friday, July 7th. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Tuesday, August 15th. Finally, Societe Generale initiated coverage on Nabors Industries in a research note on Thursday, August 31st. They issued a “hold” rating and a $7.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $12.77.
Shares of Nabors Industries (NBR) traded down 1.64% during trading on Tuesday, reaching $7.80. 6,644,340 shares of the company traded hands. The firm’s 50 day moving average price is $7.12 and its 200-day moving average price is $9.02. The company’s market capitalization is $2.23 billion. Nabors Industries has a 52 week low of $6.18 and a 52 week high of $18.40.
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 Zacks’ 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 business had revenue of $630.50 million for the quarter, compared to analyst estimates of $589.79 million. During the same quarter last year, the company earned ($0.35) earnings per share. Nabors Industries’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities analysts anticipate that Nabors Industries will post ($1.50) EPS for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This piece of content was first published by American Banking News and is the property of of American Banking News. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/03/nabors-industries-ltd-nbr-rating-reiterated-by-suntrust-banks-inc.html.
A number of large investors have recently modified their holdings of the business. Wright Investors Service Inc. grew its holdings in Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 265 shares during the period. Frontier Wealth Management LLC grew its holdings in Nabors Industries by 11.4% in the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 1,284 shares during the period. Invictus RG purchased a new stake in Nabors Industries in the first quarter valued at approximately $109,000. Carlton Hofferkamp & Jenks Wealth Management LLC grew its holdings in Nabors Industries by 3.3% in the second quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 435 shares during the period. Finally, M&T Bank Corp grew its holdings in Nabors Industries by 6.0% in the second quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 925 shares during the period. 95.71% of the stock is currently owned by hedge funds and other institutional investors.
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.
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.