Nabors Industries Ltd. (NBR) Expected to Post Quarterly Sales of $708.23 Million

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.

Several research analysts have recently commented on NBR shares. Jefferies Group raised shares of Nabors Industries from a “hold” rating to a “buy” rating and raised their price objective for the company from $6.19 to $9.00 in a research note on Wednesday, November 8th. Royal Bank of Canada set a $8.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. BMO Capital Markets set a $6.00 price objective on shares of Nabors Industries and gave the company a “hold” rating in a research note on Friday, October 27th. Finally, Credit Suisse Group set a $8.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.89.

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%.

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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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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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