Nabors Industries’ (NBR) Outperform Rating Reaffirmed at Royal Bank Of Canada
Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “outperform” rating reissued by equities researchers at Royal Bank Of Canada in a research report issued to clients and investors on Friday. They currently have a $12.00 price objective on the oil and gas company’s stock, down from their previous price objective of $14.00. Royal Bank Of Canada’s price target would indicate a potential upside of 58.94% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the company. Citigroup Inc. set a $10.00 price objective on Nabors Industries and gave the company a “buy” rating in a research report on Thursday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research report on Tuesday. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Jefferies Group LLC reaffirmed a “neutral” rating on shares of Nabors Industries in a research report on Thursday, September 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $8.00 price objective on shares of Nabors Industries in a research report on Wednesday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eighteen have given a buy rating to the company. Nabors Industries has a consensus rating of “Buy” and an average price target of $12.24.
Shares of Nabors Industries (NBR) traded down 5.51% during trading on Friday, reaching $7.55. The company’s stock had a trading volume of 8,912,592 shares. The company’s 50 day moving average price is $7.24 and its 200 day moving average price is $8.96. The firm’s market cap is $2.16 billion. Nabors Industries has a 12 month low of $6.18 and a 12 month high of $18.40.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data 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). The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. On average, equities analysts predict that Nabors Industries will post ($1.50) earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: “Nabors Industries’ (NBR) Outperform Rating Reaffirmed at Royal Bank Of Canada” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/06/nabors-industries-nbr-outperform-rating-reaffirmed-at-royal-bank-of-canada.html.
A number of hedge funds have recently modified their holdings of NBR. Park National increased its stake in Nabors Industries by 30.0% in the 4th quarter. Park National now owns 41,159 shares of the oil and gas company’s stock worth $350,000 after buying an additional 9,491 shares in the last quarter. Janus Capital Management increased its stake in Nabors Industries by 3,119.7% in the 3rd quarter. Janus Capital Management now owns 900,400 shares of the oil and gas company’s stock worth $8,509,000 after buying an additional 872,435 shares in the last quarter. Creative Planning increased its stake in Nabors Industries by 29.7% in the 4th quarter. Creative Planning now owns 308,515 shares of the oil and gas company’s stock worth $2,625,000 after buying an additional 70,625 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Nabors Industries by 22.9% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 3,464,912 shares of the oil and gas company’s stock worth $29,486,000 after buying an additional 645,401 shares in the last quarter. Finally, Strs Ohio increased its stake in Nabors Industries by 23.1% in the 4th quarter. Strs Ohio now owns 2,712,000 shares of the oil and gas company’s stock worth $23,079,000 after buying an additional 509,000 shares in the last quarter. Institutional investors and hedge funds own 95.71% of the company’s stock.
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.