Equities Analysts Offer Predictions for Nabors Industries Ltd.’s Q4 2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Seaport Global Securities cut their Q4 2017 EPS estimates for shares of Nabors Industries in a note issued to investors on Thursday. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will post earnings of ($0.33) per share for the quarter, down from their prior forecast of ($0.29). Seaport Global Securities has a “Buy” rating and a $8.00 price objective on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q1 2018 earnings at ($0.25) EPS, Q2 2018 earnings at ($0.22) EPS, Q3 2018 earnings at ($0.17) EPS, Q4 2018 earnings at ($0.11) EPS, FY2018 earnings at ($0.75) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.06) EPS, Q3 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.15) EPS.
Several other brokerages have also recently commented on NBR. UBS AG dropped their price target on Nabors Industries from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday. Cowen and Company set a $9.00 target price on Nabors Industries and gave the company a “buy” rating in a report on Thursday. Credit Suisse Group set a $9.00 price target on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $9.50 price target on shares of Nabors Industries in a research note on Friday. Finally, Jefferies Group LLC set a $8.00 price target on Nabors Industries and gave the company a “hold” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.64.
Shares of Nabors Industries (NYSE:NBR) opened at 5.55 on Monday. The firm’s 50-day moving average is $7.34 and its 200-day moving average is $8.26. The stock’s market capitalization is $1.59 billion. Nabors Industries has a one year low of $5.32 and a one year high of $18.40.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same period last year, the business earned ($0.55) earnings per share. The company’s quarterly revenue was up 27.4% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of NBR. Wright Investors Service Inc. lifted its position in Nabors Industries by 2.2% during the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 265 shares during the period. Frontier Wealth Management LLC lifted its position in Nabors Industries by 11.4% during the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 1,284 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its position in Nabors Industries by 3.3% during the 2nd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock worth $110,000 after acquiring an additional 435 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Nabors Industries during the 3rd quarter worth approximately $121,000. Finally, M&T Bank Corp lifted its position in Nabors Industries by 6.0% during the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after acquiring an additional 925 shares during the period. 95.77% of the stock is owned by institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th were given a dividend of $0.06 per share. The ex-dividend date was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a yield of 4.32%. Nabors Industries’s payout ratio is -8.96%.
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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