Zacks: Brokerages Anticipate Nabors Industries Ltd. (NYSE:NBR) Will Announce Quarterly Sales of $451.08 Million


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Wall Street analysts expect Nabors Industries Ltd. (NYSE:NBR) to announce sales of $451.08 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Nabors Industries’ earnings, with the lowest sales estimate coming in at $440.70 million and the highest estimate coming in at $463.94 million. Nabors Industries reported sales of $715.17 million in the same quarter last year, which indicates a negative year-over-year growth rate of 36.9%. The firm is scheduled to announce its next earnings results after the market closes on Wednesday, April 28th.

On average, analysts expect that Nabors Industries will report full year sales of $1.99 billion for the current fiscal year, with estimates ranging from $1.97 billion to $2.03 billion. For the next financial year, analysts anticipate that the company will post sales of $2.37 billion, with estimates ranging from $2.27 billion to $2.51 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Nabors Industries.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, February 23rd. The oil and gas company reported ($23.82) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($23.56) by ($0.26). The firm had revenue of $446.74 million during the quarter, compared to analyst estimates of $421.15 million. Nabors Industries had a negative net margin of 39.93% and a negative return on equity of 27.82%.

Separately, Morgan Stanley lifted their price objective on shares of Nabors Industries from $60.00 to $80.00 and gave the company an “underweight” rating in a report on Wednesday, March 31st. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $35.64.

Institutional investors have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in Nabors Industries by 4.0% during the 3rd quarter. California State Teachers Retirement System now owns 14,349 shares of the oil and gas company’s stock worth $351,000 after buying an additional 548 shares during the period. California Public Employees Retirement System raised its stake in shares of Nabors Industries by 3.7% in the third quarter. California Public Employees Retirement System now owns 16,737 shares of the oil and gas company’s stock valued at $409,000 after purchasing an additional 600 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Nabors Industries by 7.6% in the fourth quarter. New York State Teachers Retirement System now owns 11,385 shares of the oil and gas company’s stock valued at $663,000 after purchasing an additional 800 shares in the last quarter. Graves Light Private Wealth Management Inc. raised its stake in shares of Nabors Industries by 20,000.0% in the first quarter. Graves Light Private Wealth Management Inc. now owns 1,005 shares of the oil and gas company’s stock valued at $94,000 after purchasing an additional 1,000 shares in the last quarter. Finally, KBC Group NV acquired a new position in shares of Nabors Industries in the fourth quarter valued at $66,000. Hedge funds and other institutional investors own 63.54% of the company’s stock.

Shares of Nabors Industries stock traded down $0.27 during trading on Friday, hitting $89.18. 120,186 shares of the company’s stock were exchanged, compared to its average volume of 229,996. The company has a debt-to-equity ratio of 2.42, a quick ratio of 2.06 and a current ratio of 2.39. The business has a 50-day simple moving average of $106.37 and a 200-day simple moving average of $67.59. Nabors Industries has a 52-week low of $9.79 and a 52-week high of $133.61. The stock has a market capitalization of $656.36 million, a price-to-earnings ratio of -0.63 and a beta of 3.77.

About Nabors Industries

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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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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