Brokers expect Nabors Industries Ltd. (NYSE:NBR – Get a rating) to report earnings per share of ($10.65) for the current fiscal quarter, Zacks Investment Research reports. Four analysts provided earnings estimates for Nabors Industries. The highest EPS estimate is ($8.20) and the lowest is ($13.60). Nabors Industries reported earnings of ($20.16) per share in the same quarter last year, suggesting a positive year-over-year growth rate of 47.2%. The company is expected to release its next quarterly results on Wednesday, April 27.
On average, analysts expect Nabors Industries to report annual earnings of $31.30 per share for the current year, with EPS estimates ranging from $37.28 to $24.11. For the next fiscal year, analysts expect the company to post earnings of ($17.10) per share, with EPS estimates ranging from ($21.28) to ($9.68). Zacks Investment Research EPS averages are an average based on a survey of sell-side research analysts who cover Nabors Industries.
Nabors Industries (NYSE:NBR- Get a rating) last released its quarterly results on Tuesday, February 8. The oil and gas company reported ($14.60) earnings per share for the quarter, missing the ($10.99) consensus estimate of ($3.61). Nabors Industries had a negative return on equity of 54.43% and a negative net margin of 28.19%. During the same period of the previous year, the company posted EPS ($23.82).
Several research companies have weighed in on NBR. Royal Bank of Canada reissued a “hold” rating on Nabors Industries shares in a research report on Tuesday, November 23. Citigroup raised its price target on Nabors Industries from $75.00 to $110.00 and gave the stock a “sell” rating in a Tuesday, February 15 research report. Two analysts have assigned the stock a sell rating, two have assigned a hold rating and one has assigned the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $106.25.
Major investors have recently increased or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Nabors Industries in the fourth quarter, valued at around $33,000. FORA Capital LLC bought a new position in Nabors Industries in the second quarter worth approximately $53,000. PSI Advisors LLC bought a new position in Nabors Industries in the third quarter worth approximately $56,000. US Asset Management LLC bought a new position in Nabors Industries in the third quarter, valued at around $110,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Nabors Industries in the fourth quarter, valued at around $139,000. 76.66% of the shares are currently held by institutional investors.
Nabors Industries stock traded at $6.33 at midday on Friday, hitting $138.00. 13,570 shares of the company were traded, against an average volume of 175,539. The company has a debt ratio of 4.54, a current ratio of 2.89 and a quick ratio of 2.30. The company’s 50-day simple moving average is $110.23 and its two-hundred-day simple moving average is $97.19. The company has a market capitalization of $1.18 billion, a P/E ratio of -1.78 and a beta of 3.12. Nabors Industries has a 12-month low of $65.58 and a 12-month high of $135.75.
About Nabors Industries (Get a rating)
Nabors Industries Ltd. engages in the supply of work platforms and drilling rigs. It operates through the following segments: United States Drilling, Canada 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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