Nabors Industries Ltd. (NYSE:NBR) Receives $98.80 Consensus Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR) have been given an average rating of “Hold” by the seven research firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $98.80.

A number of analysts have issued reports on the company. Barclays reduced their price objective on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price target on shares of Nabors Industries in a research note on Wednesday. Finally, Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $110.00 to $75.00 in a research note on Friday, September 13th.

Nabors Industries Stock Performance

NBR opened at $73.09 on Thursday. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. The stock has a market capitalization of $782.21 million, a price-to-earnings ratio of -5.29 and a beta of 2.11. The company has a fifty day moving average of $73.64 and a 200 day moving average of $75.55. Nabors Industries has a fifty-two week low of $59.67 and a fifty-two week high of $125.86.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.26) EPS. As a group, sell-side analysts forecast that Nabors Industries will post -12.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nabors Industries

Several institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Nabors Industries during the 3rd quarter worth approximately $45,000. Russell Investments Group Ltd. boosted its stake in shares of Nabors Industries by 2,022.2% during the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 728 shares during the period. GAMMA Investing LLC grew its holdings in shares of Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock worth $127,000 after purchasing an additional 332 shares during the last quarter. SG Americas Securities LLC purchased a new position in Nabors Industries in the 2nd quarter worth about $159,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after buying an additional 181 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

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.