Nabors Industries Ltd. to Post Q2 2024 Earnings of ($2.12) Per Share, Zacks Research Forecasts (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at Zacks Research dropped their Q2 2024 earnings estimates for Nabors Industries in a report released on Monday, May 6th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings of ($2.12) per share for the quarter, down from their prior forecast of ($1.96). The consensus estimate for Nabors Industries’ current full-year earnings is ($3.91) per share. Zacks Research also issued estimates for Nabors Industries’ Q3 2024 earnings at ($1.56) EPS, Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($9.78) EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $2.14 EPS, Q3 2025 earnings at $2.11 EPS, Q4 2025 earnings at $1.50 EPS, FY2025 earnings at $6.04 EPS and Q1 2026 earnings at $3.60 EPS.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The business had revenue of $743.91 million for the quarter, compared to analysts’ expectations of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%.

A number of other research analysts have also recently weighed in on NBR. Morgan Stanley reduced their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Susquehanna dropped their target price on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $127.80.

Nabors Industries Price Performance

NBR opened at $73.28 on Thursday. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.23 and a current ratio of 1.78. The stock has a market capitalization of $784.10 million, a PE ratio of -5.31 and a beta of 2.37. Nabors Industries has a 1 year low of $70.25 and a 1 year high of $141.47. The company’s 50 day simple moving average is $81.97 and its 200 day simple moving average is $84.47.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC increased its stake in Nabors Industries by 202.4% during the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after buying an additional 502 shares during the period. Russell Investments Group Ltd. grew its position in shares of Nabors Industries by 2,022.2% during the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock worth $67,000 after buying an additional 728 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Nabors Industries in the fourth quarter worth $80,000. GAMMA Investing LLC acquired a new stake in Nabors Industries in the fourth quarter valued at $97,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 635 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.