SunTrust Banks Weighs in on Nabors Industries Ltd.’s Q3 2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at SunTrust Banks issued their Q3 2017 EPS estimates for shares of Nabors Industries in a research note issued on Tuesday. SunTrust Banks analyst K. Sill expects that the oil and gas company will earn ($0.33) per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $9.00 target price on the stock. SunTrust Banks also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.31) EPS, FY2017 earnings at ($1.55) EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at ($0.25) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.11) EPS and FY2018 earnings at ($0.81) EPS.
Several other research analysts have also recently weighed in on NBR. BidaskClub upgraded Nabors Industries from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Evercore ISI reiterated an “outperform” rating and set a $18.00 price objective on shares of Nabors Industries in a research report on Tuesday, June 20th. Morgan Stanley cut Nabors Industries from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $19.00 to $10.00 in a research report on Wednesday, June 21st. Seaport Global Securities cut Nabors Industries from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $13.00 to $8.00 in a research report on Wednesday, June 21st. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Nabors Industries in a research report on Tuesday, June 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.52.
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Nabors Industries (NBR) opened at 7.81 on Thursday. The company’s 50 day moving average price is $7.19 and its 200 day moving average price is $8.97. Nabors Industries has a 12 month low of $6.18 and a 12 month high of $18.40. The stock’s market cap is $2.23 billion.
Nabors Industries (NYSE:NBR) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.03). The company had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Nabors Industries by 7,474.6% in the first quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock valued at $324,317,000 after buying an additional 24,486,309 shares in the last quarter. Vanguard Group Inc. boosted its stake in Nabors Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock valued at $184,900,000 after buying an additional 149,637 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Nabors Industries by 5.6% in the first quarter. Dimensional Fund Advisors LP now owns 19,723,712 shares of the oil and gas company’s stock valued at $257,786,000 after buying an additional 1,053,328 shares in the last quarter. Morgan Stanley boosted its stake in Nabors Industries by 0.6% in the first quarter. Morgan Stanley now owns 18,787,378 shares of the oil and gas company’s stock valued at $245,552,000 after buying an additional 114,423 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Nabors Industries by 16.4% in the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock valued at $133,828,000 after buying an additional 2,315,688 shares in the last quarter. 95.71% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, September 11th. Nabors Industries’s dividend payout ratio (DPR) is presently -9.41%.
About Nabors Industries
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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