Zacks: Brokerages Anticipate Nabors Industries Ltd. (NBR) Will Post Earnings of -$0.16 Per Share
Brokerages predict that Nabors Industries Ltd. (NYSE:NBR) will post earnings per share (EPS) of ($0.16) for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Nabors Industries’ earnings. The lowest EPS estimate is ($0.28) and the highest is ($0.10). Nabors Industries reported earnings per share of ($0.34) during the same quarter last year, which would suggest a positive year over year growth rate of 52.9%. The company is expected to report its next quarterly earnings report on Tuesday, February 26th.
According to Zacks, analysts expect that Nabors Industries will report full-year earnings of ($1.25) per share for the current financial year, with EPS estimates ranging from ($1.49) to ($1.07). For the next year, analysts anticipate that the firm will report earnings of ($0.34) per share, with EPS estimates ranging from ($0.69) to ($0.08). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Nabors Industries.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.11). Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The business had revenue of $779.43 million for the quarter, compared to analysts’ expectations of $800.78 million. During the same quarter in the prior year, the company posted ($0.42) EPS. The business’s revenue for the quarter was up 17.7% on a year-over-year basis.
Shares of NBR traded up $0.01 during midday trading on Thursday, hitting $3.06. 30,407,988 shares of the company’s stock traded hands, compared to its average volume of 11,890,283. Nabors Industries has a 1 year low of $2.85 and a 1 year high of $8.86. The company has a current ratio of 2.05, a quick ratio of 1.82 and a debt-to-equity ratio of 1.26. The firm has a market cap of $1.09 billion, a PE ratio of -1.88 and a beta of 1.65.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Thursday, December 13th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, December 12th. This represents a $0.24 dividend on an annualized basis and a yield of 7.84%. Nabors Industries’s dividend payout ratio (DPR) is -14.72%.
In other news, Director John P. Kotts acquired 100,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average cost of $5.61 per share, for a total transaction of $561,000.00. Following the acquisition, the director now owns 301,949 shares in the company, valued at approximately $1,693,933.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Yearwood acquired 197,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $5.14 per share, for a total transaction of $1,012,580.00. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.
Several institutional investors have recently modified their holdings of NBR. NumerixS Investment Technologies Inc purchased a new stake in shares of Nabors Industries during the 2nd quarter valued at approximately $106,000. Signition LP purchased a new stake in shares of Nabors Industries during the 2nd quarter valued at approximately $133,000. FNY Investment Advisers LLC raised its position in shares of Nabors Industries by 19,946.4% during the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Nabors Industries during the 2nd quarter valued at approximately $139,000. Finally, Blair William & Co. IL purchased a new stake in shares of Nabors Industries during the 3rd quarter valued at approximately $175,000. Institutional investors and hedge funds own 89.03% of the company’s stock.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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