Analysts Set Expectations for Nabors Industries Ltd.’s Q4 2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Equities research analysts at Seaport Global Securities decreased their Q4 2017 earnings per share (EPS) estimates for Nabors Industries in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Urban now anticipates that the oil and gas company will post earnings of ($0.35) per share for the quarter, down from their previous forecast of ($0.33). Seaport Global Securities currently has a “Buy” rating and a $13.00 price target on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.14) EPS, FY2018 earnings at ($0.85) EPS, Q1 2019 earnings at ($0.13) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.03) EPS, Q4 2019 earnings at $0.00 EPS and FY2019 earnings at ($0.25) EPS.
A number of other research firms have also recently commented on NBR. JPMorgan Chase & Co. cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price for the company. in a research note on Wednesday. Cowen set a $9.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, January 11th. Citigroup set a $10.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. SunTrust Banks restated a “buy” rating and issued a $9.00 target price (down previously from $20.00) on shares of Nabors Industries in a research note on Tuesday, October 3rd. Finally, Deutsche Bank began coverage on Nabors Industries in a research note on Tuesday, October 10th. They issued a “hold” rating and a $9.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.89.
Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. 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 business earned ($0.55) EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Tuesday, December 12th. Nabors Industries’s payout ratio is -8.96%.
Institutional investors have recently bought and sold shares of the business. Brave Asset Management Inc. bought a new stake in shares of Nabors Industries in the 3rd quarter worth $101,000. Frontier Wealth Management LLC increased its holdings in shares of Nabors Industries by 11.4% in the 2nd 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. Oakbrook Investments LLC bought a new stake in shares of Nabors Industries in the 4th quarter worth $103,000. State of Alaska Department of Revenue bought a new stake in shares of Nabors Industries in the 4th quarter worth $109,000. Finally, Cetera Advisors LLC bought a new stake in shares of Nabors Industries in the 3rd quarter worth $115,000. 87.79% of the stock is owned by institutional investors and hedge funds.
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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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