Q4 2017 EPS Estimates for Nabors Industries Ltd. Reduced by Jefferies Group (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Jefferies Group lowered their Q4 2017 earnings per share estimates for Nabors Industries in a note issued to investors on Wednesday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings of ($0.31) per share for the quarter, down from their previous estimate of ($0.27). Jefferies Group currently has a “Buy” rating and a $9.00 target price on the stock. Jefferies Group also issued estimates for Nabors Industries’ Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at ($0.30) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($1.05) EPS, FY2019 earnings at ($0.20) EPS and FY2020 earnings at $0.70 EPS.
Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million during the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.55) EPS.
NBR has been the subject of several other reports. Nomura set a $12.00 target price on Nabors Industries and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Friday, August 18th. Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Tuesday, August 15th. Credit Suisse Group set a $9.00 price target on Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $8.00 price target (down previously from $9.00) on shares of Nabors Industries in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $11.52.
Nabors Industries (NYSE:NBR) traded down $0.06 during trading hours on Friday, reaching $6.27. The company’s stock had a trading volume of 7,320,916 shares, compared to its average volume of 12,080,000. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.22. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $18.40.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.83%. Nabors Industries’s dividend payout ratio is currently -8.96%.
A number of hedge funds have recently modified their holdings of NBR. Wright Investors Service Inc. increased its stake in Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock worth $102,000 after buying an additional 265 shares in the last quarter. Frontier Wealth Management LLC grew its position in shares of Nabors Industries by 11.4% during the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 1,284 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of Nabors Industries during the third quarter valued at about $121,000. M&T Bank Corp grew its position in shares of Nabors Industries by 6.0% during the second quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 925 shares in the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Nabors Industries by 162.8% during the second quarter. D.A. Davidson & CO. now owns 18,700 shares of the oil and gas company’s stock valued at $152,000 after purchasing an additional 11,585 shares in the last quarter. Institutional investors and hedge funds own 96.45% of the company’s stock.
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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