Brokerages Expect Nabors Industries Ltd. (NBR) Will Post Quarterly Sales of $805.24 Million
Wall Street brokerages predict that Nabors Industries Ltd. (NYSE:NBR) will post $805.24 million in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Nabors Industries’ earnings, with estimates ranging from $779.36 million to $819.60 million. Nabors Industries reported sales of $709.26 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.5%. The company is expected to report its next earnings report after the market closes on Tuesday, February 26th.
On average, analysts expect that Nabors Industries will report full-year sales of $3.08 billion for the current financial year, with estimates ranging from $3.05 billion to $3.09 billion. For the next financial year, analysts anticipate that the business will post sales of $3.31 billion, with estimates ranging from $3.07 billion to $3.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Nabors Industries.
NBR has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $8.00 target price on shares of Nabors Industries in a report on Tuesday, November 6th. Piper Jaffray Companies set a $7.00 target price on shares of Nabors Industries and gave the company a “hold” rating in a report on Thursday, November 8th. BMO Capital Markets lowered their target price on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, November 1st. Raymond James cut shares of Nabors Industries from a “strong-buy” rating to a “market perform” rating and set a $2.75 target price for the company. in a report on Thursday, December 13th. Finally, Cowen cut shares of Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price for the company. in a report on Thursday, January 17th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.83.
NYSE NBR opened at $3.20 on Friday. Nabors Industries has a 52 week low of $1.81 and a 52 week high of $8.86. 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 company has a market cap of $1.12 billion, a price-to-earnings ratio of -1.96 and a beta of 2.43.
About Nabors Industries
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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