SunTrust Banks Comments on Nabors Industries Ltd.’s FY2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at SunTrust Banks decreased their FY2017 earnings per share (EPS) estimates for shares of Nabors Industries in a report released on Tuesday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings per share of ($1.66) for the year, down from their previous estimate of ($1.55). SunTrust Banks has a “Buy” rating and a $9.00 price target on the stock. SunTrust Banks also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.33) EPS, Q1 2018 earnings at ($0.27) EPS, Q2 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.83) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.04) EPS and FY2019 earnings at ($0.22) EPS.
Several other research firms have also recently commented on NBR. Citigroup set a $10.00 price objective on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, October 5th. Deutsche Bank assumed coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 target price on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $12.00 target price (down previously from $14.00) on shares of Nabors Industries in a report on Friday, October 6th. Jefferies Group reissued a “neutral” rating on shares of Nabors Industries in a report on Thursday, September 7th. Finally, Cowen set a $11.00 target price on Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $11.07.
Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the consensus estimate 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 business 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% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Tuesday, December 12th. Nabors Industries’s dividend payout ratio is currently -8.96%.
Large investors have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. purchased a new stake in shares of Nabors Industries during the third quarter worth about $101,000. 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 worth $102,000 after purchasing an additional 1,284 shares in the last quarter. Cetera Advisors LLC purchased a new position in Nabors Industries during the 3rd quarter valued at approximately $115,000. Clear Harbor Asset Management LLC purchased a new position in Nabors Industries during the 3rd quarter valued at approximately $121,000. Finally, M&T Bank Corp grew its holdings 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 valued at $133,000 after buying an additional 925 shares in the last quarter. Hedge funds and other institutional investors own 97.71% of the company’s stock.
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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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