Nabors Industries Ltd. (NYSE:NBR) Receives Medium Analyst “Hold” Recommendation


The shares of Nabors Industries Ltd. (NYSE:NBR – Get Rating) earned a consensus recommendation of “Hold” from the nine analysts who currently cover the company, MarketBeat.com reports. One analyst rated the stock with a sell recommendation, five gave the company a hold recommendation and one gave the company a buy recommendation. The 1-year average target price among brokerages that have covered the stock over the past year is $92.40.

Several stock analysts have weighed in on the company recently. StockNews.com supported coverage of Nabors Industries in a research report on Thursday, March 31. They set a “holding” rating for the company. Barclays raised its price target on Nabors Industries from $132.00 to $180.00 in a Monday May 2 research report. Morgan Stanley lowered its price target on Nabors Industries from $150.00 to $125.00 and set an “underweight” rating on the stock in a research note on Wednesday. Capital One Financial reiterated an “equal weight” rating on Nabors Industries shares in a Thursday, March 17 research note. Finally, Susquehanna lowered its price target on Nabors Industries from $170.00 to $21.00 in a Wednesday, June 8 research note.

NYSE:NBR shares opened at $101.12 on Friday. Nabors Industries has a fifty-two week low of $65.58 and a fifty-two week high of $207.67. The company has a 50-day moving average of $142.84 and a two-hundred-day moving average of $137.91. The stock has a market capitalization of $1.06 billion, a P/E ratio of -1.27 and a beta of 2.81. The company has a debt ratio of 3.83, a current ratio of 1.84 and a quick ratio of 1.58.

Nabors Industries (NYSE:NBR – Get Rating) last released its quarterly earnings data on Wednesday, April 27. The oil and gas company reported ($13.88) earnings per share for the quarter, missing the ($8.95) consensus estimate of ($4.93). Nabors Industries had a negative return on equity of 59.04% and a negative net margin of 29.01%. The company posted revenue of $568.70 million for the quarter, versus analyst estimates of $561.32 million. As a group, research analysts expect Nabors Industries to post -29.82 EPS for the current fiscal year.

Several hedge funds have recently increased or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in shares of Nabors Industries by 73.3% in Q1. Lindbrook Capital LLC now owns 182 shares of the oil and gas company valued at $28,000 after purchasing an additional 77 shares during the period. Profund Advisors LLC increased its stake in Nabors Industries shares by 3.3% in Q1. Profund Advisors LLC now owns 2,818 shares of the oil and gas company valued at $430,000 after buying 89 additional shares during the period. The New York State Common Retirement Fund increased its stake in Nabors Industries shares by 1.8% in Q1. The New York State Common Retirement Fund now owns 5,078 shares of the oil and gas company valued at $776,000 after buying 91 additional shares during the period. Eaton Vance Management increased its stake in Nabors Industries shares by 2.2% in Q1. Eaton Vance Management now owns 4,437 shares of the oil and gas company valued at $677,000 after buying 97 additional shares during the period. Finally, Louisiana State Employees Retirement System increased its holding in Nabors Industries shares by 2.7% in the 1st quarter. The Louisiana State Employees Retirement System now owns 3,800 shares of the oil and gas company worth $724,000 after acquiring 100 more shares in the last quarter. Institutional investors hold 70.86% of the company’s shares.

About Nabors Industries (Get an assessment)

Nabors Industries Ltd. provides drilling and drilling services for onshore and offshore oil and natural gas wells. The Company operates through five segments: US Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies. It provides services in tubular operation, wellbore placement, directional drilling, measurement-while-drilling (MWD), drilling equipment and instrumentation manufacturing; and logging-while-drilling systems and services, as well as drilling optimization software.

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