Wall Street analysts forecast that Nabors Industries Ltd. (NYSE:NBR) will announce sales of $708.23 million for the current quarter, Zacks reports. Eight analysts have issued estimates for Nabors Industries’ earnings. The highest sales estimate is $729.00 million and the lowest is $689.00 million. Nabors Industries reported sales of $539.21 million in the same quarter last year, which would suggest a positive year over year growth rate of 31.3%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 28th.
On average, analysts expect that Nabors Industries will report full-year sales of $708.23 million for the current fiscal year, with estimates ranging from $2.55 billion to $2.59 billion. For the next year, analysts forecast that the firm will report sales of $3.28 billion per share, with estimates ranging from $3.00 billion to $3.74 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $674.03 million. During the same period in the previous year, the business posted ($0.55) EPS. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its holdings in Nabors Industries by 278.9% during the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after purchasing an additional 2,915,370 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Nabors Industries by 101.4% during the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after purchasing an additional 2,354,975 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Nabors Industries by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after purchasing an additional 2,243,068 shares in the last quarter. FMR LLC raised its holdings in Nabors Industries by 33.3% during the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after purchasing an additional 2,118,198 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in Nabors Industries by 47.5% during the third quarter. Point72 Asset Management L.P. now owns 4,044,184 shares of the oil and gas company’s stock worth $32,637,000 after purchasing an additional 1,302,284 shares in the last quarter. 87.79% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries (NYSE NBR) opened at $8.12 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $17.92. The company has a market cap of $2,538.09, a P/E ratio of -3.03 and a beta of 1.59.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were issued a $0.06 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 annualized dividend and a yield of 2.96%. Nabors Industries’s dividend payout ratio (DPR) is -8.96%.
ILLEGAL ACTIVITY NOTICE: This piece of content was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/20/nabors-industries-ltd-nbr-expected-to-post-quarterly-sales-of-708-23-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.