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

  • 10/10/2017 – Nabors Industries is now covered by analysts at Deutsche Bank AG. They set a “hold” rating and a $9.00 price target on the stock.
  • 10/6/2017 – Nabors Industries had its “outperform” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $12.00 price target on the stock, down previously from $14.00.
  • 10/5/2017 – Nabors Industries was given a new $10.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
  • 10/3/2017 – Nabors Industries had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $9.00 price target on the stock, down previously from $20.00.
  • 9/13/2017 – Nabors Industries had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $8.00 price target on the stock, down previously from $9.00.
  • 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.

Shares of Nabors Industries Ltd. (NBR) traded down 1.46% on Wednesday, hitting $7.40. 8,599,238 shares of the stock traded hands. Nabors Industries Ltd. has a 12-month low of $6.18 and a 12-month high of $18.40. The stock has a 50-day moving average price of $7.34 and a 200 day moving average price of $8.79. The stock’s market cap is $2.12 billion.

Nabors Industries (NYSE:NBR) last announced 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 company had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, analysts anticipate that Nabors Industries Ltd. will post ($1.49) earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were paid a $0.06 dividend. The ex-dividend date was Monday, September 11th. This represents a $0.24 annualized dividend and a dividend yield of 3.24%. 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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