Q1 2018 EPS Estimates for Nabors Industries Ltd. (NBR) Decreased by Seaport Global Securities
Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at Seaport Global Securities decreased their Q1 2018 earnings per share estimates for shares of Nabors Industries in a research report issued on Thursday. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will post earnings per share of ($0.32) for the quarter, down from their previous forecast of ($0.29). Seaport Global Securities currently has a “Buy” rating and a $13.00 target price on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.11) EPS, Q4 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.72) EPS, Q1 2019 earnings at ($0.06) EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at $0.02 EPS, Q4 2019 earnings at $0.02 EPS and FY2019 earnings at ($0.05) EPS.
Several other equities analysts also recently commented on the company. Jefferies Group raised Nabors Industries from a “hold” rating to a “buy” rating and upped their target price for the company from $6.19 to $9.00 in a research report on Wednesday, November 8th. Royal Bank of Canada set a $8.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st. Zacks Investment Research raised Nabors Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. Cowen set a $9.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Sunday, December 31st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $10.89.
Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.40%. The firm had revenue of $708.28 million during the quarter, compared to analyst estimates of $706.35 million. During the same period in the previous year, the company posted ($0.30) EPS. Nabors Industries’s revenue for the quarter was up 31.4% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 3.56%. The ex-dividend date is Monday, March 12th. Nabors Industries’s payout ratio is presently -17.65%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Nabors Industries by 15.3% during the fourth quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock worth $190,080,000 after purchasing an additional 3,700,602 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in 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 last quarter. Van ECK Associates Corp lifted its stake in Nabors Industries by 1.7% during the third quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock worth $131,160,000 after purchasing an additional 274,089 shares during the last quarter. Thunderbird Partners LLP bought a new stake in Nabors Industries during the fourth quarter worth $37,219,000. Finally, Victory Capital Management Inc. lifted its stake in Nabors Industries by 1.0% during the fourth quarter. Victory Capital Management Inc. now owns 4,723,162 shares of the oil and gas company’s stock worth $32,259,000 after purchasing an additional 45,208 shares during the last quarter. Hedge funds and other institutional investors own 86.69% of the company’s stock.
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About Nabors Industries
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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