Jefferies Group LLC upgraded shares of Nabors Industries Ltd. (NYSE:NBR) from a hold rating to a buy rating in a research note issued to investors on Wednesday, November 8th, MarketBeat Ratings reports. They currently have $9.00 price target on the oil and gas company’s stock, up from their previous price target of $6.19. Jefferies Group also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.31) EPS, Q1 2018 earnings at ($0.32) EPS, Q2 2018 earnings at ($0.30) EPS, Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.18) EPS, FY2018 earnings at ($1.05) EPS, FY2019 earnings at ($0.20) EPS and FY2020 earnings at $0.70 EPS.
Several other analysts have also issued reports on NBR. Cowen and Company reduced their price objective on shares of Nabors Industries from $13.00 to $10.50 and set an outperform rating on the stock in a report on Tuesday, August 8th. Credit Suisse Group set a $9.00 price target on shares of Nabors Industries and gave the stock a buy rating in a research note on Thursday, August 10th. They noted that the move was a valuation call. Seaport Global Securities reiterated a neutral rating on shares of Nabors Industries in a research note on Friday, August 4th. UBS AG cut their price target on shares of Nabors Industries from $11.00 to $10.00 and set a buy rating on the stock in a research note on Friday, October 27th. Finally, ValuEngine downgraded Nabors Industries from a sell rating to a strong sell rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $11.30.
Shares of Nabors Industries (NBR) traded up $0.07 on Wednesday, reaching $5.86. 8,094,600 shares of the company’s stock traded hands, compared to its average volume of 8,604,746. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.40. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million for the quarter, compared to analysts’ expectations of $674.03 million. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The firm’s revenue was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.55) EPS. analysts forecast that Nabors Industries will post -1.61 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 4.10%. Nabors Industries’s payout ratio is currently -8.96%.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Nabors Industries by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock valued at $184,900,000 after buying an additional 149,637 shares during the period. Dimensional Fund Advisors LP increased its holdings in Nabors Industries by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after purchasing an additional 2,243,068 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Nabors Industries by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after purchasing an additional 2,315,688 shares during the last quarter. Van ECK Associates Corp increased its holdings in Nabors Industries by 1.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock worth $131,160,000 after purchasing an additional 274,089 shares during the last quarter. Finally, State Street Corp increased its holdings in Nabors Industries by 3.0% during the 2nd quarter. State Street Corp now owns 8,519,273 shares of the oil and gas company’s stock worth $69,351,000 after purchasing an additional 248,054 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.
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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