Nabors Industries Ltd. (NBR) Expected to Post FY2017 Earnings of ($1.66) Per Share
Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at SunTrust Banks lowered their FY2017 earnings per share (EPS) estimates for shares of Nabors Industries in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings per share of ($1.66) for the year, down from their previous estimate of ($1.55). SunTrust Banks currently has a “Buy” rating and a $9.00 price target on the stock. SunTrust Banks also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.33) EPS, Q1 2018 earnings at ($0.27) EPS, Q2 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.83) EPS, Q1 2019 earnings at ($0.09) EPS, Q2 2019 earnings at ($0.08) EPS, Q3 2019 earnings at ($0.04) EPS and FY2019 earnings at ($0.22) EPS.
Several other brokerages have also commented on NBR. Citigroup set a $10.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. Deutsche Bank began coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a “hold” rating and a $9.00 price objective for the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $12.00 price objective (down from $14.00) on shares of Nabors Industries in a report on Friday, October 6th. Cowen set a $11.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Wednesday, October 18th. Finally, Jefferies Group reissued a “neutral” rating on shares of Nabors Industries in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $11.07.
Nabors Industries (NYSE:NBR) opened at $6.04 on Friday. Nabors Industries has a one year low of $5.32 and a one year high of $18.40. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.55) earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Tuesday, December 12th. Nabors Industries’s dividend payout ratio is presently -8.96%.
Several hedge funds and other institutional investors have recently modified their holdings of NBR. Prudential Financial Inc. lifted its holdings in shares of Nabors Industries by 278.9% during the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after purchasing an additional 2,915,370 shares during the period. Sirios Capital Management L P lifted its holdings in shares of Nabors Industries by 246.1% during the second quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after purchasing an additional 2,869,187 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Nabors Industries by 101.4% during the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after purchasing an additional 2,354,975 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Nabors Industries by 16.4% during the second quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after purchasing an additional 2,315,688 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Nabors Industries by 11.7% during the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after purchasing an additional 2,243,068 shares during the period. 97.71% of the stock is owned by hedge funds and other institutional investors.
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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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