Nabors Industries (NYSE:NBR – Get Free Report) announced its earnings results on Tuesday. The oil and gas company reported ($1.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.10), FiscalAI reports. Nabors Industries had a net margin of 7.64% and a negative return on equity of 7.06%. The business had revenue of $872.19 million during the quarter, compared to analyst estimates of $859.20 million.
Nabors Industries Stock Performance
Shares of NYSE NBR traded down $1.10 during trading hours on Tuesday, reaching $81.19. 240,940 shares of the stock were exchanged, compared to its average volume of 305,879. Nabors Industries has a 52 week low of $44.04 and a 52 week high of $112.90. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.75 and a current ratio of 1.89. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 6.04 and a beta of 1.11. The stock’s fifty day simple moving average is $85.34 and its 200 day simple moving average is $83.66.
Insiders Place Their Bets
In other Nabors Industries news, Director David Tudor sold 3,200 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the sale, the director owned 5,264 shares of the company’s stock, valued at $485,867.20. The trade was a 37.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.32% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
NBR has been the topic of several recent research reports. Barclays set a $93.00 price target on Nabors Industries and gave the company an “equal weight” rating in a report on Wednesday, August 5th. Morgan Stanley set a $110.00 price objective on Nabors Industries in a research note on Thursday, August 20th. Zacks Research cut shares of Nabors Industries from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. 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 research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Nabors Industries currently has an average rating of “Hold” and a consensus target price of $103.43.
Check Out Our Latest Report on NBR
Nabors Industries Company Profile
Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.
Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.
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