Nabors Industries Ltd. (NYSE:NBR) – Analysts at Capital One Financial reduced their Q4 2019 earnings estimates for Nabors Industries in a research note issued to investors on Friday, October 5th. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of $0.00 per share for the quarter, down from their previous estimate of $0.05.
Other research analysts have also recently issued research reports about the company. Seaport Global Securities restated a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a research report on Thursday, August 2nd. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Royal Bank of Canada set a $12.00 price target on Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, September 20th. Piper Jaffray Companies set a $8.00 price target on Nabors Industries and gave the stock a “hold” rating in a research report on Wednesday, October 3rd. Finally, Societe Generale raised Nabors Industries from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $9.18.
Shares of NYSE NBR opened at $6.39 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.84 and a debt-to-equity ratio of 1.24. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $8.86. The firm has a market capitalization of $2.20 billion, a P/E ratio of -3.81 and a beta of 1.63.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.24) by ($0.15). Nabors Industries had a negative return on equity of 14.97% and a negative net margin of 21.21%. The company had revenue of $761.92 million during the quarter, compared to the consensus estimate of $755.76 million. During the same quarter in the previous year, the business posted ($0.41) EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Nabors Industries by 12.3% in the second quarter. BlackRock Inc. now owns 31,330,733 shares of the oil and gas company’s stock valued at $200,829,000 after buying an additional 3,443,863 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Nabors Industries by 5.8% during the second quarter. Van ECK Associates Corp now owns 17,791,852 shares of the oil and gas company’s stock valued at $114,046,000 after purchasing an additional 970,312 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Nabors Industries by 1,865.6% during the first quarter. Millennium Management LLC now owns 14,831,684 shares of the oil and gas company’s stock valued at $103,673,000 after purchasing an additional 15,671,698 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Nabors Industries during the second quarter valued at about $31,054,000. Finally, Northern Trust Corp boosted its stake in shares of Nabors Industries by 8.2% during the second quarter. Northern Trust Corp now owns 3,093,157 shares of the oil and gas company’s stock valued at $19,826,000 after purchasing an additional 235,459 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Tuesday, September 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Monday, September 10th. Nabors Industries’s dividend payout ratio (DPR) is presently -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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