Nabors Industries Ltd. (NBR) Posts Earnings Results
Nabors Industries Ltd. (NYSE:NBR) released its quarterly earnings results on Tuesday. The oil and gas company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09), RTT News reports. Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The company had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. During the same quarter last year, the firm posted ($0.55) EPS. The company’s quarterly revenue was up 27.4% on a year-over-year basis.
Nabors Industries (NYSE NBR) remained flat at $6.43 on Tuesday. The company had a trading volume of 15,564,816 shares. The company’s market capitalization is $1.84 billion. The company’s 50 day moving average price is $7.45 and its 200 day moving average price is $8.41. Nabors Industries has a 52-week low of $6.18 and a 52-week high of $18.40.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Investors of record on Tuesday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Monday, September 11th. Nabors Industries’s dividend payout ratio (DPR) is currently -9.41%.
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A number of research firms have commented on NBR. Cowen and Company set a $11.00 price target on Nabors Industries and gave the company a “buy” rating in a research report on Wednesday, October 18th. Deutsche Bank AG began coverage on Nabors Industries in a research report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price target on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $12.00 price target (down previously from $14.00) on shares of Nabors Industries in a research report on Friday, October 6th. Citigroup Inc. set a $10.00 price target on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 5th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and issued a $9.00 price target (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. Nabors Industries presently has an average rating of “Buy” and a consensus price target of $12.07.
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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