Credit Suisse Group Analysts Give Nabors Industries Ltd. (NBR) a $9.00 Price Target
Nabors Industries Ltd. (NYSE:NBR) has been given a $9.00 target price by Credit Suisse Group in a report released on Thursday. The brokerage presently has a “buy” rating on the oil and gas company’s stock. Credit Suisse Group’s target price points to a potential upside of 28.94% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) lowered shares of Nabors Industries from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $17.50 to $18.00 in a research report on Friday, April 28th. Citigroup Inc. restated a “buy” rating on shares of Nabors Industries in a research report on Wednesday, May 10th. Deutsche Bank AG restated a “buy” rating and set a $13.00 target price (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, May 30th. Royal Bank Of Canada restated a “buy” rating on shares of Nabors Industries in a research report on Tuesday, June 20th. Finally, UBS AG restated a “buy” rating and set a $11.00 target price (down from $17.00) on shares of Nabors Industries in a research report on Thursday, July 6th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $14.18.
Nabors Industries (NYSE NBR) opened at 6.98 on Thursday. The firm’s market capitalization is $1.95 billion. Nabors Industries has a 52-week low of $6.93 and a 52-week high of $18.40. The firm’s 50-day moving average is $7.69 and its 200-day moving average is $11.22.
Nabors Industries (NYSE:NBR) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.03. The company had revenue of $630.50 million for the quarter, compared to analysts’ expectations of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. Nabors Industries’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. On average, analysts anticipate that Nabors Industries will post ($1.45) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally published by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright law. The original version of this news story can be read at https://www.watchlistnews.com/credit-suisse-group-analysts-give-nabors-industries-ltd-nbr-a-9-00-price-target/1468171.html.
In related news, CFO William J. Restrepo acquired 22,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $8.25 per share, with a total value of $181,500.00. Following the purchase, the chief financial officer now directly owns 959,694 shares in the company, valued at approximately $7,917,475.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invictus RG bought a new position in Nabors Industries during the first quarter worth approximately $109,000. Aviance Capital Management LLC bought a new position in Nabors Industries during the first quarter worth approximately $143,000. Coconut Grove Bank increased its position in Nabors Industries by 47.1% in the first quarter. Coconut Grove Bank now owns 10,960 shares of the oil and gas company’s stock worth $143,000 after buying an additional 3,510 shares in the last quarter. Point72 Asia Hong Kong Ltd increased its position in Nabors Industries by 92.2% in the first quarter. Point72 Asia Hong Kong Ltd now owns 11,262 shares of the oil and gas company’s stock worth $147,000 after buying an additional 5,401 shares in the last quarter. Finally, Harbour Capital Advisors LLC increased its position in Nabors Industries by 714.0% in the second quarter. Harbour Capital Advisors LLC now owns 11,396 shares of the oil and gas company’s stock worth $1,400,000 after buying an additional 9,996 shares in the last quarter. 98.65% of the stock is owned by 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.
Receive News & Ratings for Nabors Industries Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.