Several other equities analysts have also recently commented on NBR. Citigroup reissued a buy rating and set a $8.00 target price (down previously from $9.00) on shares of Nabors Industries in a research report on Wednesday, September 13th. SunTrust Banks reissued a buy rating and set a $9.00 target price (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Royal Bank of Canada reissued an outperform rating and set a $12.00 target price (down previously from $14.00) on shares of Nabors Industries in a research report on Friday, October 6th. Deutsche Bank initiated coverage on shares of Nabors Industries in a research report on Tuesday, October 10th. They set a hold rating and a $9.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of Nabors Industries from $9.00 to $8.50 and set an equal weight rating on the stock in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $10.75.
Nabors Industries (NBR) traded up $0.17 during trading on Thursday, hitting $8.19. 13,733,197 shares of the company’s stock traded hands, compared to its average volume of 14,580,634. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $17.92. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41. The company has a market cap of $2,340.00, a PE ratio of -3.06 and a beta of 1.59.
Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $662.50 million for the quarter, compared to the consensus estimate of $674.03 million. During the same period in the prior year, the business earned ($0.55) EPS. Nabors Industries’s quarterly revenue was up 27.4% compared to the same quarter last year. sell-side analysts expect that Nabors Industries will post -1.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were issued a $0.06 dividend. The ex-dividend date was Tuesday, December 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.93%. Nabors Industries’s dividend payout ratio (DPR) is presently -8.96%.
A number of institutional investors have recently added to or reduced their stakes in NBR. Utah Retirement Systems grew its stake in Nabors Industries by 1.0% in the 2nd quarter. Utah Retirement Systems now owns 50,740 shares of the oil and gas company’s stock valued at $413,000 after buying an additional 500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Nabors Industries by 3.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,833 shares of the oil and gas company’s stock valued at $267,000 after buying an additional 1,015 shares in the last quarter. Swiss National Bank grew its stake in Nabors Industries by 2.0% in the 2nd quarter. Swiss National Bank now owns 478,155 shares of the oil and gas company’s stock valued at $3,892,000 after buying an additional 9,400 shares in the last quarter. CIBC World Markets Inc. purchased a new position in Nabors Industries in the 2nd quarter valued at approximately $662,000. Finally, Aberdeen Asset Management PLC UK grew its stake in Nabors Industries by 94.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 56,177 shares of the oil and gas company’s stock valued at $457,000 after buying an additional 27,234 shares in the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.
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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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