Nabors Industries Ltd. (NBR) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Nabors Industries Ltd. (NYSE:NBR) have been assigned a consensus recommendation of “Buy” from the twenty-eight analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $12.28.
A number of research analysts have issued reports on the company. Cowen and Company set a $11.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Wednesday, October 18th. Deutsche Bank AG assumed coverage on Nabors Industries in a research report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 target price on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $12.00 target price (down previously from $14.00) on shares of Nabors Industries in a research report on Friday, October 6th. Citigroup Inc. set a $10.00 target price 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 target price (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd.
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A number of large investors have recently made changes to their positions in the business. First Trust Advisors LP grew its stake in Nabors Industries by 12.5% in the 3rd quarter. First Trust Advisors LP now owns 176,106 shares of the oil and gas company’s stock valued at $1,421,000 after purchasing an additional 19,625 shares during the period. Strs Ohio grew its stake in Nabors Industries by 8.3% in the 3rd quarter. Strs Ohio now owns 2,510,000 shares of the oil and gas company’s stock valued at $20,255,000 after purchasing an additional 193,000 shares during the period. Mutual of America Capital Management LLC grew its stake in Nabors Industries by 1.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 543,336 shares of the oil and gas company’s stock valued at $4,385,000 after purchasing an additional 9,076 shares during the period. Energy Opportunities Capital Management LLC grew its stake in Nabors Industries by 1.1% in the 2nd quarter. Energy Opportunities Capital Management LLC now owns 365,755 shares of the oil and gas company’s stock valued at $2,977,000 after purchasing an additional 4,075 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Nabors Industries by 38.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 51,070 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 14,258 shares during the period. Hedge funds and other institutional investors own 95.57% of the company’s stock.
Shares of Nabors Industries (NYSE:NBR) opened at 6.43 on Wednesday. Nabors Industries has a one year low of $6.18 and a one year high of $18.40. The company’s market cap is $1.84 billion. The firm has a 50-day moving average of $7.42 and a 200 day moving average of $8.35.
Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The business’s revenue was up 27.4% on a year-over-year basis. Equities research analysts anticipate that Nabors Industries will post ($1.49) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders 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 dividend on an annualized basis and a yield of 3.73%. 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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