NBR has been the subject of several other reports. Citigroup dropped their price target on Nabors Industries from $10.00 to $9.00 and set a buy rating for the company in a research note on Wednesday, July 11th. Wells Fargo & Co raised Nabors Industries from a market perform rating to an outperform rating and set a $8.00 price objective on the stock in a report on Friday, June 29th. ValuEngine raised Nabors Industries from a strong sell rating to a sell rating in a report on Thursday, August 2nd. Morgan Stanley raised Nabors Industries from an equal weight rating to an overweight rating and set a $9.00 price objective on the stock in a report on Thursday, July 12th. Finally, Seaport Global Securities reaffirmed a buy rating and set a $11.00 price objective on shares of Nabors Industries in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $9.13.
NBR stock traded up $0.17 during midday trading on Friday, hitting $6.15. The company’s stock had a trading volume of 8,097,325 shares, compared to its average volume of 10,988,532. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $8.86. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.04 and a quick ratio of 1.84. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -3.77 and a beta of 1.63.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, July 31st. The oil and gas company reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ 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 business 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 company earned ($0.41) earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts anticipate that Nabors Industries will post -1.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Tuesday, September 11th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 10th. This represents a $0.24 annualized dividend and a dividend yield of 3.90%. Nabors Industries’s dividend payout ratio (DPR) is -14.72%.
Several institutional investors and hedge funds have recently modified their holdings of NBR. NumerixS Investment Technologies Inc purchased a new stake in Nabors Industries during the 2nd quarter valued at $106,000. Signition LP purchased a new stake in Nabors Industries during the 2nd quarter valued at $133,000. Commerzbank Aktiengesellschaft FI purchased a new stake in Nabors Industries during the 2nd quarter valued at $139,000. Cerebellum GP LLC purchased a new stake in Nabors Industries during the 2nd quarter valued at $177,000. Finally, Oakbrook Investments LLC purchased a new stake in Nabors Industries during the 2nd quarter valued at $191,000. 96.20% of the stock is currently owned by institutional investors and hedge funds.
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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