Brokerages expect Nabors Industries Ltd. (NYSE:NBR) reports earnings of ($10.98) per share for the current quarter, according to Zacks. Three analysts provided earnings estimates for Nabors Industries, with the lowest EPS estimate of $13.79 and the highest estimate of $8.78. Nabors Industries reported earnings of ($23.82) per share in the same quarter last year, suggesting a positive growth rate of 53.9% year over year. The company is expected to announce its next quarterly results after the market closes on Tuesday, February 8.
According to Zacks, analysts expect Nabors Industries to report annual earnings of $60.04 per share for the current year, with EPS estimates ranging from $65.67 to $53.37. For the next fiscal year, analysts expect the company to post earnings of ($32.01) per share, with EPS estimates ranging from ($39.05) to ($27.78). Zacks EPS calculations are an average based on a survey of research analysts who cover Nabors Industries.
Nabors Industries (NYSE:NBR) last released its quarterly results on Tuesday, October 26. The oil and gas company reported ($15.79) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of ($12.90) by ($2.89). Nabors Industries had a negative return on equity of 51.87% and a negative net margin of 29.33%. The company posted revenue of $524.37 million for the quarter, versus a consensus estimate of $503.63 million. In the same period a year earlier, the company posted ($22.81) earnings per share.
A number of equity research analysts have recently released reports on the company. Atb Cap Markets upgraded Nabors Industries from an “underperforming” rating to an “overperforming” rating in a Wednesday, September 29 research report. Royal Bank of Canada reaffirmed a “hold” rating on Nabors Industries shares in a Tuesday, November 23 research note. Finally, Barclays raised its price target on Nabors Industries from $87.00 to $115.00 and gave the stock an “equal weight” rating in a Monday, October 25 report.
Shares of NBR fell $5.15 on Friday, hitting $99.01. The company had a trading volume of 137,532 shares, compared to an average volume of 140,152. The company has a market capitalization of $815.94 million, a P/E ratio of -1.25 and a beta of 3 ,39. The company has a 50-day moving average price of $91.40 and a 200-day moving average price of $92.48. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt ratio of 3.69. Nabors Industries has a 12-month low of $55.01 and a 12-month high of $133.61.
Several institutional investors have recently bought and sold shares of NBR. UBS Asset Management Americas Inc. increased its stake in Nabors Industries by 4.2% in the third quarter. UBS Asset Management Americas Inc. now owns 9,512 shares of the oil and gas company valued at $918,000 after buying 383 additional shares in the last quarter. Comerica Bank increased its stake in Nabors Industries shares by 11.8% in the third quarter. Comerica Bank now owns 7,420 shares of the oil and gas company worth $895,000 after acquiring 785 more shares in the last quarter. Bank of New York Mellon Corp increased its position in Nabors Industries shares by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 76,132 shares of the oil and gas company worth $7,344,000 after buying 1,851 additional shares during the period. Squarepoint Ops LLC acquired a new position in Nabors Industries during the third quarter worth approximately $539,000. Finally, Thrivent Financial for Lutherans increased its stake in Nabors Industries by 17.4% in the third quarter. Thrivent Financial for Lutherans now owns 6,262 shares of the oil and gas company valued at $604,000 after buying 929 additional shares last quarter. Institutional investors and hedge funds own 76.12% of the company’s shares.
Nabors Industries Company Profile
Nabors Industries Ltd. engages in the supply of work platforms and drilling rigs. It operates through the following segments: United States Drilling, Canadian Drilling, International Drilling, Drilling Solutions and Drilling Technologies. The US Drilling segment includes land drilling operations in the lower 48 states and Alaska, as well as offshore operations in the Gulf of Mexico.
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