Zacks: Analysts predict Nabors Industries Ltd. (NYSE:NBR) to Report Quarterly Sales of $552.32 Million

Stock analysts expect Nabors Industries Ltd. (NYSE:NBR) reports sales of $552.32 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts released earnings estimates for Nabors Industries. The lowest sales estimate is $539.60 million and the highest is $562.67 million. Nabors Industries reported sales of $446.74 million in the same quarter last year, suggesting a positive year-over-year growth rate of 23.6%. The company is expected to release its next results after the market closes on Tuesday, February 8.

According to Zacks, analysts expect Nabors Industries to report annual sales of $2.01 billion for the current year, with estimates ranging from $1.99 billion to $2.03 billion. For the next fiscal year, analysts expect the company to post sales of $2.47 billion, with estimates ranging from $2.45 billion to $2.48 billion. Zacks sales averages are an average average based on a survey of sell-side research analysts who track Nabors Industries.

Nabors Industries (NYSE:NBR) last announced its results on Tuesday, October 26. The oil and gas company reported ($15.79) earnings per share for the quarter, missing the consensus estimate of ($12.90) by ($2.89). The company posted revenue of $524.37 million in the quarter, compared to $503.63 million expected by analysts. Nabors Industries has a negative net margin of 29.33% and a negative return on equity of 51.87%. In the same quarter last year, the company posted ($22.81) earnings per share.

A number of stock analysts have recently released reports on the stock. Atb Cap Markets raised shares of Nabors Industries from an “underperforming” rating to an “overperforming” rating in a Wednesday, September 29 research report. Royal Bank of Canada reaffirmed a “hold” rating on Nabors Industries shares in a Tuesday, November 23 research note. Finally, Barclays raised its price target on Nabors Industries shares from $87.00 to $115.00 and gave the company an “equal weight” rating in a Monday, October 25 research report.

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NBR opened at $103.92 on Tuesday. The company has a market capitalization of $856.40 million, a PE ratio of -1.32 and a beta of 3.39. Nabors Industries has a 12-month low of $55.01 and a 12-month high of $133.61. The company has a fifty-day moving average of $91.58. The company has a quick ratio of 2.30, a current ratio of 2.56 and a debt ratio of 3.69.

Several institutional investors have recently increased or reduced their stake in NBR. Advisory Services Network LLC acquired a new stake in Nabors Industries in the second quarter worth approximately $25,000. FORA Capital LLC acquired a new stake in Nabors Industries in the second quarter worth approximately $53,000. PSI Advisors LLC acquired a new stake in Nabors Industries in the third quarter worth approximately $56,000. US Asset Management LLC acquired a new position in Nabors Industries stock during Q3 worth approximately $110,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in Nabors Industries stock during Q3 worth approximately $203,000. 76.12% of the shares are held by institutional investors and hedge funds.

Nabors Industries Company Profile

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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