Wall Street brokerages expect Nabors Industries Ltd. (NYSE:NBR) to announce $813.53 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Nabors Industries’ earnings, with estimates ranging from $779.36 million to $841.00 million. Nabors Industries posted sales of $709.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.7%. The company is expected to issue its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Nabors Industries will report full-year sales of $3.09 billion for the current financial year, with estimates ranging from $3.05 billion to $3.14 billion. For the next year, analysts expect that the company will report sales of $3.53 billion, with estimates ranging from $3.41 billion to $3.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Nabors Industries.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). The firm had revenue of $779.43 million for the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.42) earnings per share.
Several analysts have recently commented on NBR shares. Royal Bank of Canada set a $12.00 price objective on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, September 20th. Piper Jaffray Companies set a $8.00 price target on shares of Nabors Industries and gave the company a “hold” rating in a report on Wednesday, October 3rd. Wolfe Research assumed coverage on shares of Nabors Industries in a report on Wednesday, October 10th. They issued an “outperform” rating on the stock. Cowen reiterated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a report on Friday, October 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a report on Friday, October 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $8.96.
In other Nabors Industries news, Director John P. Kotts acquired 100,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $5.61 per share, with a total value of $561,000.00. Following the purchase, the director now directly owns 301,949 shares of the company’s stock, valued at approximately $1,693,933.89. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Yearwood acquired 197,000 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was acquired at an average cost of $5.14 per share, with a total value of $1,012,580.00. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.
Large investors have recently modified their holdings of the business. NumerixS Investment Technologies Inc purchased a new position in shares of Nabors Industries during the 2nd quarter worth about $106,000. Signition LP purchased a new position in shares of Nabors Industries during the 2nd quarter worth about $133,000. FNY Investment Advisers LLC boosted its stake in shares of Nabors Industries by 19,946.4% during the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Nabors Industries during the 2nd quarter worth about $139,000. Finally, Blair William & Co. IL purchased a new position in shares of Nabors Industries during the 3rd quarter worth about $175,000. 89.03% of the stock is owned by institutional investors and hedge funds.
Shares of NBR stock opened at $3.10 on Friday. The firm has a market cap of $1.09 billion, a PE ratio of -1.90 and a beta of 1.65. Nabors Industries has a one year low of $2.85 and a one year high of $8.86. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.82 and a current ratio of 2.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 3rd. Shareholders of record on Thursday, December 13th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 7.74%. Nabors Industries’s payout ratio is currently -14.72%.
About Nabors Industries
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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