Nabors Industries Ltd. (NBR) Set to Announce Quarterly Earnings on Tuesday
Nabors Industries Ltd. (NYSE:NBR) is set to announce its earnings results after the market closes on Tuesday, October 24th. Analysts expect the company to announce earnings of ($0.28) per share for the quarter.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.03). The company had revenue of $630.50 million during the quarter, compared to analyst estimates of $589.79 million. Nabors Industries had a negative return on equity of 13.31% and a negative net margin of 32.35%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.35) EPS. On average, analysts expect Nabors Industries to post $-1.47 EPS for the current fiscal year and $-0.63 EPS for the next fiscal year.
Shares of Nabors Industries Ltd. (NBR) opened at 6.70 on Friday. The stock has a 50 day moving average of $7.45 and a 200 day moving average of $8.53. Nabors Industries Ltd. has a 52 week low of $6.18 and a 52 week high of $18.40. The firm’s market cap is $1.91 billion.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Monday, September 11th. Nabors Industries’s dividend payout ratio is currently -9.41%.
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NBR has been the topic of a number of analyst reports. Guggenheim cut Nabors Industries from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. UBS AG reiterated a “buy” rating and set a $11.00 price objective (down previously from $17.00) on shares of Nabors Industries in a research note on Thursday, July 6th. Wells Fargo & Company cut Nabors Industries from an “outperform” rating to a “market perform” rating in a research note on Friday, July 7th. Zacks Investment Research cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $8.00 price objective (down previously from $13.00) on shares of Nabors Industries in a research note on Thursday, July 13th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.07.
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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