Wall Street analysts expect Nabors Industries Ltd. (NYSE:NBR) to report $813.53 million in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for Nabors Industries’ earnings. The lowest sales estimate is $779.36 million and the highest is $841.00 million. Nabors Industries reported sales of $709.26 million during the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The company is expected to issue its next earnings report on Tuesday, February 26th.

On average, analysts expect that Nabors Industries will report full-year sales of $3.09 billion for the current year, with estimates ranging from $3.05 billion to $3.14 billion. For the next fiscal year, analysts expect that the business will post sales of $3.53 billion, with estimates ranging from $3.41 billion to $3.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Nabors Industries.

Nabors Industries (NYSE:NBR) last released its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.11). The company had revenue of $779.43 million during the quarter, compared to analysts’ expectations of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.42) earnings per share.

A number of research analysts have weighed in on NBR shares. Guggenheim reiterated a “buy” rating and issued a $11.00 target price on shares of Nabors Industries in a research note on Friday, October 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $8.00 target price on shares of Nabors Industries in a research note on Tuesday, November 6th. Bank of America started coverage on shares of Nabors Industries in a research note on Wednesday, October 17th. They issued a “buy” rating on the stock. Wolfe Research started coverage on shares of Nabors Industries in a research note on Wednesday, October 10th. They issued an “outperform” rating on the stock. Finally, BMO Capital Markets dropped their target price on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating on the stock in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.96.

NBR traded up $0.02 during midday trading on Friday, reaching $4.42. The company had a trading volume of 808,357 shares, compared to its average volume of 17,489,380. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -2.76 and a beta of 1.69. Nabors Industries has a 12-month low of $4.02 and a 12-month high of $8.86.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Wednesday, December 12th. Nabors Industries’s dividend payout ratio (DPR) is currently -14.72%.

In other Nabors Industries news, Director John Yearwood purchased 197,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were bought at an average price of $5.14 per share, with a total value of $1,012,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Kotts purchased 100,000 shares of the stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average cost of $5.61 per share, for a total transaction of $561,000.00. Following the transaction, the director now owns 301,949 shares of the company’s stock, valued at $1,693,933.89. The disclosure for this purchase can be found here. Insiders own 4.15% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NumerixS Investment Technologies Inc bought a new stake in Nabors Industries during the 2nd quarter worth approximately $106,000. Signition LP bought a new stake in Nabors Industries during the 2nd quarter worth approximately $133,000. FNY Investment Advisers LLC increased its holdings in Nabors Industries by 19,946.4% during the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock worth $135,000 after acquiring an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in Nabors Industries during the 2nd quarter worth approximately $139,000. Finally, Blair William & Co. IL bought a new stake in Nabors Industries during the 3rd quarter worth approximately $175,000. 92.48% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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