-$0.32 EPS Expected for Nabors Industries Ltd. (NBR) This Quarter
Brokerages expect Nabors Industries Ltd. (NYSE:NBR) to report ($0.32) earnings per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Nabors Industries’ earnings, with the highest EPS estimate coming in at ($0.26) and the lowest estimate coming in at ($0.37). Nabors Industries posted earnings per share of ($0.30) in the same quarter last year, which indicates a negative year-over-year growth rate of 6.7%. The company is expected to issue its next earnings report on Wednesday, February 28th.
On average, analysts expect that Nabors Industries will report full year earnings of ($1.61) per share for the current fiscal year, with EPS estimates ranging from ($1.73) to ($1.53). For the next fiscal year, analysts forecast that the business will post earnings of ($0.75) per share, with EPS estimates ranging from ($1.05) to ($0.15). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Nabors Industries.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported C($0.42) earnings per share for the quarter, missing the consensus estimate of C($0.33) by C($0.09). The company had revenue of C$662.50 million during the quarter, compared to analyst estimates of C$674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.55) EPS.
NBR has been the topic of a number of recent research reports. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Cowen and Company dropped their price target on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating on the stock in a report on Tuesday, August 8th. Morgan Stanley dropped their price target on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, August 7th. 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. Finally, Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of C$11.52.
Shares of Nabors Industries (NYSE:NBR) opened at C$6.40 on Monday. Nabors Industries has a one year low of C$5.32 and a one year high of C$18.40. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.75%. The ex-dividend date is Tuesday, December 12th. Nabors Industries’s dividend payout ratio is currently -8.96%.
Several institutional investors and hedge funds have recently made changes to their positions in NBR. Messner & Smith Theme Value Investment Management Ltd. CA purchased a new stake in Nabors Industries in the third quarter valued at $1,446,000. Commonwealth Bank of Australia raised its position in shares of Nabors Industries by 26.6% in the third quarter. Commonwealth Bank of Australia now owns 116,761 shares of the company’s stock worth $939,000 after acquiring an additional 24,500 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Nabors Industries in the third quarter worth about $1,382,000. Wells Fargo & Company MN raised its position in shares of Nabors Industries by 22.7% in the third quarter. Wells Fargo & Company MN now owns 866,154 shares of the company’s stock worth $6,990,000 after acquiring an additional 160,248 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Nabors Industries in the third quarter worth about $588,000. 94.30% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
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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