Brokerages Anticipate Nabors Industries Ltd. (NYSE:NBR) to Post -$6.70 Earnings Per Share

Wall Street brokerages expect Nabors Industries Ltd. (NYSE:NBR – Get Rating) to announce earnings per share (EPS) of ($6.70) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nabors Industries’ earnings, with estimates ranging from ($7.81) to ($4.39). Nabors Industries reported earnings of ($18.01) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 62.8%. The business is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($29.25) per share for the current fiscal year, with EPS estimates ranging from ($31.08) to ($27.42). For the next financial year, analysts forecast that the firm will post earnings of ($2.02) per share, with EPS estimates ranging from ($13.80) to $4.36. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Nabors Industries.

Nabors Industries (NYSE:NBR – Get Rating) last posted its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported ($13.88) earnings per share for the quarter, missing the consensus estimate of ($8.95) by ($4.93). The firm had revenue of $568.70 million during the quarter, compared to analyst estimates of $561.32 million. Nabors Industries had a negative net margin of 29.01% and a negative return on equity of 59.04%.

Several equities research analysts recently weighed in on NBR shares. StockNews.com started coverage on Nabors Industries in a report on Thursday, March 31st. They set a “hold” rating for the company. Capital One Financial reaffirmed an “equal weight” rating on shares of Nabors Industries in a report on Thursday, March 17th. Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $175.00 to $115.00 in a report on Monday, March 14th. Morgan Stanley increased their price target on Nabors Industries from $100.00 to $150.00 and gave the stock an “underweight” rating in a report on Monday, April 11th. Finally, Barclays increased their price target on Nabors Industries from $132.00 to $180.00 in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $136.25.

A number of large investors have recently added to or reduced their stakes in NBR. First Trust Advisors LP raised its position in Nabors Industries by 49.3% in the first quarter. First Trust Advisors LP now owns 1,569,190 shares of the oil and gas company’s stock worth $5,398,000 after acquiring an additional 518,376 shares in the last quarter. BlackRock Inc. increased its position in shares of Nabors Industries by 7.9% in the third quarter. BlackRock Inc. now owns 1,187,018 shares of the oil and gas company’s stock valued at $114,525,000 after buying an additional 86,696 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Nabors Industries by 138.5% in the third quarter. Allianz Asset Management GmbH now owns 144,669 shares of the oil and gas company’s stock valued at $13,958,000 after buying an additional 84,007 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Nabors Industries in the third quarter valued at $7,236,000. Finally, Great Lakes Advisors LLC purchased a new position in shares of Nabors Industries in the first quarter valued at $5,868,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Shares of NBR stock traded up $0.39 during trading hours on Thursday, hitting $126.33. The stock had a trading volume of 176,717 shares, compared to its average volume of 197,855. The firm has a market capitalization of $1.33 billion, a PE ratio of -1.58 and a beta of 2.83. Nabors Industries has a twelve month low of $65.58 and a twelve month high of $207.67. The stock’s 50 day moving average is $158.17 and its 200 day moving average is $122.00. The company has a debt-to-equity ratio of 3.83, a current ratio of 1.84 and a quick ratio of 2.65.

About Nabors Industries (Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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