Equities research analysts expect Nabors Industries Ltd. (NYSE:NBR) to announce sales of $710.12 million for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Nabors Industries’ earnings, with estimates ranging from $689.00 million to $729.00 million. Nabors Industries reported sales of $539.21 million during the same quarter last year, which indicates a positive year over year growth rate of 31.7%. The firm is expected to report its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Nabors Industries will report full-year sales of $710.12 million for the current financial year, with estimates ranging from $2.55 billion to $2.59 billion. For the next year, analysts expect that the business will post sales of $3.25 billion per share, with estimates ranging from $3.00 billion to $3.74 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The business had revenue of $662.50 million during 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 company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.55) earnings per share.
Large investors have recently added to or reduced their stakes in the stock. Brave Asset Management Inc. purchased a new stake in Nabors Industries during the 3rd quarter valued at $101,000. Frontier Wealth Management LLC increased its stake in Nabors Industries by 11.4% in 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 during the period. Cetera Advisors LLC purchased a new stake in Nabors Industries in the third quarter worth $115,000. Clear Harbor Asset Management LLC purchased a new stake in Nabors Industries in the third quarter worth $121,000. Finally, M&T Bank Corp increased its stake in Nabors Industries by 6.0% in the second quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 925 shares during the period. Institutional investors own 97.71% of the company’s stock.
Shares of Nabors Industries (NBR) traded down $0.10 on Monday, hitting $5.48. The stock had a trading volume of 18,351,000 shares, compared to its average volume of 8,730,475. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $18.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 annualized dividend and a yield of 4.38%. Nabors Industries’s payout ratio is presently -8.96%.
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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.
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