Zacks Research Issues Positive Estimate for NBR Earnings

Nabors Industries Ltd. (NYSE:NBR) – Stock analysts at Zacks Research boosted their Q1 2028 EPS estimates for shares of Nabors Industries in a research note issued on Wednesday, September 16th. Zacks Research analyst Team now forecasts that the oil and gas company will post earnings per share of $1.56 for the quarter, up from their prior estimate of $1.33. Zacks Research has a “Hold” rating on the stock. The consensus estimate for Nabors Industries’ current full-year earnings is ($3.69) per share. Zacks Research also issued estimates for Nabors Industries’ FY2028 earnings at $6.12 EPS.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, June 30th. The oil and gas company reported ($2.04) EPS for the quarter. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%.The firm had revenue of $814.79 million for the quarter.

NBR has been the subject of a number of other research reports. Morgan Stanley set a $110.00 target price on shares of Nabors Industries in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price objective (up from $120.00) on shares of Nabors Industries in a research note on Thursday, July 30th. Susquehanna cut their price objective on shares of Nabors Industries from $105.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Finally, Wall Street Zen lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $102.57.

Nabors Industries Stock Performance

NYSE NBR opened at $85.75 on Thursday. The company has a market cap of $1.37 billion, a PE ratio of 6.38 and a beta of 1.00. The stock’s 50 day simple moving average is $87.16 and its 200-day simple moving average is $88.21. Nabors Industries has a 1-year low of $36.62 and a 1-year high of $112.90. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.89 and a quick ratio of 1.75.

Institutional Investors Weigh In On Nabors Industries

A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Nabors Industries by 42.1% during the first quarter. Dimensional Fund Advisors LP now owns 447,833 shares of the oil and gas company’s stock worth $38,545,000 after purchasing an additional 132,747 shares during the last quarter. Engineers Gate Manager LP raised its stake in Nabors Industries by 1,518.1% during the second quarter. Engineers Gate Manager LP now owns 414,599 shares of the oil and gas company’s stock worth $34,830,000 after purchasing an additional 388,976 shares during the period. Cibc World Market Inc. boosted its holdings in Nabors Industries by 2.0% in the 4th quarter. Cibc World Market Inc. now owns 499,147 shares of the oil and gas company’s stock valued at $27,104,000 after purchasing an additional 9,640 shares during the last quarter. Bank of America Corp DE boosted its holdings in Nabors Industries by 191.8% in the 1st quarter. Bank of America Corp DE now owns 151,922 shares of the oil and gas company’s stock valued at $13,074,000 after purchasing an additional 99,852 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Nabors Industries by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 69,053 shares of the oil and gas company’s stock valued at $5,943,000 after buying an additional 2,231 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Insider Activity

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the sale, the director directly owned 5,264 shares of the company’s stock, valued at $485,867.20. This trade represents a 37.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.32% of the stock is owned by company insiders.

Nabors Industries Company Profile

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land-based and offshore drilling services to exploration and production companies. The company operates a fleet of land drilling rigs, offshore platform rigs and other specialized drilling equipment, supporting customers throughout the well-construction process.

In addition to contract drilling, Nabors provides directional drilling, measurement-while-drilling, drilling optimization and other wellbore services.