Nabors Industries Ltd. (NYSE:NBR) declared a quarterly dividend on Saturday, October 28th, Zacks reports. Stockholders of record on Wednesday, December 13th will be given a dividend of 0.06 per share by the oil and gas company on Wednesday, January 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, December 12th.

Nabors Industries has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Nabors Industries has a payout ratio of -14.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Nabors Industries to earn ($0.75) per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of -32.0%.

Shares of Nabors Industries (NYSE:NBR) traded down $0.27 during midday trading on Thursday, reaching $5.95. The company’s stock had a trading volume of 8,594,700 shares, compared to its average volume of 8,617,910. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $18.40.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business’s revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.55) earnings per share. equities research analysts forecast that Nabors Industries will post -1.61 earnings per share for the current year.

Several equities research analysts have recently weighed in on the company. Citigroup set a $10.00 price objective on Nabors Industries and gave the stock a “buy” rating in a research note on Thursday, October 5th. SunTrust Banks reissued a “buy” rating and set a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research note on Tuesday, October 3rd. Deutsche Bank assumed coverage on Nabors Industries in a research note on Tuesday, October 10th. They set a “hold” rating and a $9.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and set a $12.00 price objective (down from $14.00) on shares of Nabors Industries in a research note on Friday, October 6th. Finally, Jefferies Group reissued a “neutral” rating on shares of Nabors Industries in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.30.

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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.

Dividend History for Nabors Industries (NYSE:NBR)

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