Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Capital One Financial Corporation reduced their FY2017 earnings per share estimates for Nabors Industries in a report issued on Wednesday. Capital One Financial Corporation analyst L. Lemoine now expects that the oil and gas company will earn ($1.62) per share for the year, down from their prior forecast of ($1.41). Capital One Financial Corporation also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.34) EPS and FY2018 earnings at ($0.94) EPS.
Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The firm had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. Nabors Industries’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.55) earnings per share.
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Several other brokerages also recently weighed in on NBR. BidaskClub downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Citigroup Inc. set a $10.00 price target on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, October 5th. BMO Capital Markets reaffirmed a “hold” rating and set a $8.00 price target (down from $13.00) on shares of Nabors Industries in a report on Thursday, July 13th. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $9.00 price target (down from $20.00) on shares of Nabors Industries in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $11.50 price target on shares of Nabors Industries in a report on Friday, July 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $11.64.
Nabors Industries (NYSE:NBR) opened at 5.55 on Monday. Nabors Industries has a 12-month low of $5.32 and a 12-month high of $18.40. The stock’s market capitalization is $1.59 billion. The stock’s 50 day moving average is $7.32 and its 200 day moving average is $8.13.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, September 12th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, September 11th. Nabors Industries’s payout ratio is -8.96%.
A number of large investors have recently modified their holdings of the business. Wright Investors Service Inc. lifted its stake in shares of Nabors Industries by 2.2% in the 2nd quarter. Wright Investors Service Inc. now owns 12,560 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 265 shares in the last quarter. Frontier Wealth Management LLC lifted its stake in shares of Nabors Industries by 11.4% in the 2nd quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 1,284 shares in the last quarter. Carlton Hofferkamp & Jenks Wealth Management LLC lifted its stake in shares of Nabors Industries by 3.3% in the 2nd quarter. Carlton Hofferkamp & Jenks Wealth Management LLC now owns 13,550 shares of the oil and gas company’s stock valued at $110,000 after purchasing an additional 435 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in shares of Nabors Industries in the 3rd quarter valued at about $121,000. Finally, M&T Bank Corp lifted its stake in shares of Nabors Industries by 6.0% in the 2nd quarter. M&T Bank Corp now owns 16,320 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 925 shares in the last quarter. 95.77% of the stock is currently owned by hedge funds and other institutional investors.
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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