Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Capital One Financial Corporation lifted their FY2017 earnings estimates for Nabors Industries in a note issued to investors on Monday. Capital One Financial Corporation analyst L. Lemoine now anticipates that the oil and gas company will earn ($1.41) per share for the year, up from their previous estimate of ($1.45). Capital One Financial Corporation also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.25) EPS and FY2018 earnings at ($0.74) EPS.
A number of other research firms also recently commented on NBR. Evercore ISI restated an “outperform” rating and issued a $18.00 price objective on shares of Nabors Industries in a report on Tuesday, June 20th. Seaport Global Securities downgraded Nabors Industries from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $13.00 to $8.00 in a report on Wednesday, June 21st. Morgan Stanley downgraded Nabors Industries from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $19.00 to $10.00 in a report on Wednesday, June 21st. Royal Bank Of Canada restated a “buy” rating on shares of Nabors Industries in a report on Tuesday, June 20th. Finally, Guggenheim downgraded Nabors Industries from a “buy” rating to a “neutral” rating in a report on Tuesday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Nabors Industries presently has an average rating of “Buy” and a consensus target price of $12.05.
Shares of Nabors Industries (NYSE NBR) opened at 7.25 on Wednesday. Nabors Industries has a 52 week low of $6.18 and a 52 week high of $18.40. The stock’s market capitalization is $2.07 billion. The firm’s 50-day moving average is $7.37 and its 200-day moving average is $8.77.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). The business had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 annualized dividend and a yield of 3.31%. Nabors Industries’s dividend payout ratio is presently -9.41%.
A number of hedge funds have recently bought and sold shares of NBR. BlackRock Inc. increased its holdings in Nabors Industries by 7,474.6% during the 1st quarter. BlackRock Inc. now owns 24,813,903 shares of the oil and gas company’s stock worth $324,317,000 after purchasing an additional 24,486,309 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Nabors Industries by 414.1% in the 1st quarter. Renaissance Technologies LLC now owns 4,467,589 shares of the oil and gas company’s stock worth $58,391,000 after acquiring an additional 3,598,589 shares in the last quarter. Sirios Capital Management L P grew its position in shares of Nabors Industries by 246.1% in the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after acquiring an additional 2,869,187 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Nabors Industries by 16.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after acquiring an additional 2,315,688 shares in the last quarter. Finally, FMR LLC grew its position in shares of Nabors Industries by 33.3% in the 2nd quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after acquiring an additional 2,118,198 shares in the last quarter. Institutional investors own 95.71% of the company’s stock.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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