ValuEngine Lowers Nabors Industries (NBR) to Strong Sell
ValuEngine lowered shares of Nabors Industries (NYSE:NBR) from a sell rating to a strong sell rating in a research note published on Sunday.
NBR has been the subject of a number of other reports. Zacks Investment Research upgraded Nabors Industries from a sell rating to a hold rating in a report on Monday, September 11th. Deutsche Bank started coverage on Nabors Industries in a report on Tuesday, October 10th. They issued a hold rating and a $9.00 price target for the company. Cowen set a $11.00 price target on Nabors Industries and gave the company a buy rating in a report on Wednesday, October 18th. Citigroup reiterated a buy rating and issued a $8.00 price target (down from $9.00) on shares of Nabors Industries in a report on Wednesday, September 13th. Finally, Credit Suisse Group set a $8.00 price target on Nabors Industries and gave the company a buy rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $10.88.
Shares of Nabors Industries (NYSE NBR) opened at $6.87 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. Nabors Industries has a twelve month low of $5.32 and a twelve month high of $18.40. The stock has a market capitalization of $1,960.00, a P/E ratio of -2.56 and a beta of 1.59.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. During the same quarter in the prior year, the firm earned ($0.55) earnings per share. Nabors Industries’s revenue for the quarter was up 27.4% compared to the same quarter last year. equities analysts anticipate that Nabors Industries will post -1.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 3.49%. Nabors Industries’s dividend payout ratio is currently -8.96%.
Large investors have recently added to or reduced their stakes in the stock. HAP Trading LLC boosted its position in Nabors Industries by 479.2% during the 3rd quarter. HAP Trading LLC now owns 44,361 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 56,061 shares during the period. Trexquant Investment LP acquired a new position in Nabors Industries during the 3rd quarter valued at approximately $588,000. Commonwealth Bank of Australia boosted its position in Nabors Industries by 26.6% during the 3rd quarter. Commonwealth Bank of Australia now owns 116,761 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 24,500 shares during the period. Prudential Financial Inc. boosted its position in Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the period. Finally, Strs Ohio boosted its position in Nabors Industries by 8.3% during the 3rd quarter. Strs Ohio now owns 2,510,000 shares of the oil and gas company’s stock valued at $20,255,000 after purchasing an additional 193,000 shares during the period. Institutional investors and hedge funds own 87.63% of the company’s stock.
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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