FY2017 EPS Estimates for Nabors Industries Ltd. (NBR) Lifted by Capital One Financial Corporation
Nabors Industries Ltd. (NYSE:NBR) – Equities research analysts at Capital One Financial Corporation raised their FY2017 earnings estimates for shares of Nabors Industries in a report issued on Monday. Capital One Financial Corporation analyst L. Lemoine now anticipates that the oil and gas company will post earnings per share of ($1.41) for the year, up from their prior estimate of ($1.45). Capital One Financial Corporation also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.25) EPS and FY2018 earnings at ($0.74) EPS.
A number of other research analysts have also recently issued reports on NBR. BidaskClub raised Nabors Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Evercore ISI reissued an “outperform” rating and set a $18.00 price objective on shares of Nabors Industries in a report on Tuesday, June 20th. Morgan Stanley cut Nabors Industries from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $19.00 to $10.00 in a report on Wednesday, June 21st. Seaport Global Securities cut Nabors Industries from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $8.00 in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Nabors Industries in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.05.
Nabors Industries (NYSE:NBR) opened at 7.51 on Wednesday. Nabors Industries has a 52-week low of $6.18 and a 52-week high of $18.40. The stock’s 50 day moving average is $7.34 and its 200 day moving average is $8.79. The company’s market cap is $2.15 billion.
Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.03). The firm had revenue of $630.50 million for the quarter, compared to the consensus estimate of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The firm’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS.
A number of hedge funds have recently made changes to their positions in NBR. Bollard Group LLC grew its position in shares of Nabors Industries by 1.2% during the 2nd quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock worth $2,541,000 after buying an additional 3,816 shares during the period. Mitchell Group Inc. grew its position in shares of Nabors Industries by 52.0% during the 2nd quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock worth $22,015,000 after buying an additional 925,140 shares during the period. Paloma Partners Management Co grew its position in shares of Nabors Industries by 117.2% during the 1st quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock worth $901,000 after buying an additional 37,175 shares during the period. Teacher Retirement System of Texas grew its position in shares of Nabors Industries by 4.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock worth $194,000 after buying an additional 979 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Nabors Industries by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock worth $981,000 after buying an additional 1,800 shares during the period. Hedge funds and other institutional investors own 95.71% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a yield of 3.20%. Nabors Industries’s payout ratio is -9.41%.
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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