Nabors Industries (NYSE:NBR) Issues Earnings Results

Nabors Industries (NYSE:NBR) issued its quarterly earnings data on Wednesday. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81), Zacks reports. Nabors Industries had a negative net margin of 4.69% and a negative return on equity of 25.68%.

Nabors Industries Stock Down 3.4 %

Shares of NBR traded down $1.71 during midday trading on Friday, hitting $47.98. 104,495 shares of the company’s stock traded hands, compared to its average volume of 293,899. The stock has a market capitalization of $513.90 million, a price-to-earnings ratio of -2.61 and a beta of 2.02. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The firm’s fifty day moving average is $60.01 and its 200-day moving average is $70.13. Nabors Industries has a 1 year low of $44.00 and a 1 year high of $105.96.

Analysts Set New Price Targets

NBR has been the topic of a number of analyst reports. Citigroup upped their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI cut their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Finally, Susquehanna cut their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Nabors Industries currently has a consensus rating of “Hold” and an average price target of $86.40.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.