ValuEngine cut shares of Nabors Industries (NYSE:NBR) from a sell rating to a strong sell rating in a research report sent to investors on Friday.
Other equities research analysts have also issued reports about the stock. Stephens began coverage on shares of Nabors Industries in a report on Tuesday, January 9th. They issued an equal weight rating and a $8.00 target price for the company. Bank of America dropped their price target on Nabors Industries from $8.50 to $8.00 and set a buy rating for the company in a research note on Wednesday, November 8th. Royal Bank of Canada restated an outperform rating and issued a $12.00 price target (down from $14.00) on shares of Nabors Industries in a research note on Friday, October 6th. Zacks Investment Research upgraded Nabors Industries from a sell rating to a hold rating in a research note on Tuesday, December 26th. Finally, Citigroup set a $10.00 price target on Nabors Industries and gave the stock a buy rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $10.89.
Nabors Industries (NYSE NBR) traded down $0.51 during trading on Friday, reaching $7.64. 9,016,029 shares of the company traded hands, compared to its average volume of 10,981,687. The stock has a market cap of $2,588.92, a price-to-earnings ratio of -2.85 and a beta of 1.59. Nabors Industries has a one year low of $5.32 and a one year high of $16.37. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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