Wall Street analysts expect Nabors Industries Ltd. (NYSE:NBR) to announce earnings of ($0.18) per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Nabors Industries’ earnings, with the highest EPS estimate coming in at ($0.12) and the lowest estimate coming in at ($0.24). Nabors Industries reported earnings per share of ($0.42) during the same quarter last year, which suggests a positive year over year growth rate of 57.1%. The company is scheduled to report its next earnings report on Tuesday, October 23rd.
On average, analysts expect that Nabors Industries will report full year earnings of ($1.05) per share for the current financial year, with EPS estimates ranging from ($1.52) to ($0.84). For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.25) per share, with EPS estimates ranging from ($0.50) to ($0.03). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.15). The company had revenue of $761.92 million for the quarter, compared to analysts’ expectations of $755.76 million. Nabors Industries had a negative net margin of 21.21% and a negative return on equity of 14.97%. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) earnings per share.
Several research firms have recently weighed in on NBR. Citigroup decreased their price target on shares of Nabors Industries from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, July 11th. Wells Fargo & Co raised shares of Nabors Industries from a “market perform” rating to an “outperform” rating and set a $8.00 price target on the stock in a research note on Friday, June 29th. ValuEngine raised shares of Nabors Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 2nd. Morgan Stanley raised shares of Nabors Industries from an “equal weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research note on Thursday, July 12th. Finally, Seaport Global Securities reissued a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a research note on Thursday, August 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $9.00.
Institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new stake in Nabors Industries during the second quarter worth about $2,258,000. Laurion Capital Management LP acquired a new stake in Nabors Industries during the second quarter worth about $5,990,000. Supplemental Annuity Collective Trust of NJ acquired a new stake in Nabors Industries during the second quarter worth about $513,000. Edgestream Partners L.P. acquired a new stake in Nabors Industries during the second quarter worth about $191,000. Finally, Neuburgh Advisers LLC increased its position in Nabors Industries by 34.4% during the second quarter. Neuburgh Advisers LLC now owns 67,932 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 17,374 shares during the last quarter. Hedge funds and other institutional investors own 96.22% of the company’s stock.
NYSE:NBR opened at $6.07 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.84 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $2.19 billion, a PE ratio of -3.72 and a beta of 1.64. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $8.86.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Monday, September 10th. Nabors Industries’s payout ratio is currently -14.72%.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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