Nabors Industries Ltd. (NYSE:NBR) – Equities researchers at Piper Jaffray Companies cut their Q4 2018 EPS estimates for shares of Nabors Industries in a report released on Tuesday, January 8th. Piper Jaffray Companies analyst J. Daniel now forecasts that the oil and gas company will post earnings per share of ($0.14) for the quarter, down from their previous estimate of ($0.13). Piper Jaffray Companies has a “Hold” rating and a $7.00 price target on the stock. Piper Jaffray Companies also issued estimates for Nabors Industries’ Q1 2019 earnings at ($0.22) EPS, Q2 2019 earnings at ($0.22) EPS, Q3 2019 earnings at ($0.19) EPS, Q4 2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.77) EPS, Q1 2020 earnings at ($0.13) EPS, Q2 2020 earnings at ($0.10) EPS, Q3 2020 earnings at ($0.06) EPS, Q4 2020 earnings at $0.00 EPS and FY2020 earnings at ($0.28) EPS.
Several other research firms also recently issued reports on NBR. Wolfe Research assumed coverage on shares of Nabors Industries in a report on Wednesday, October 10th. They set an “outperform” rating for the company. Bank of America initiated coverage on shares of Nabors Industries in a report on Wednesday, October 17th. They issued a “buy” rating for the company. Royal Bank of Canada set a $12.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a report on Thursday, September 20th. Guggenheim reissued a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a report on Friday, October 12th. Finally, Cowen reissued a “buy” rating and issued a $11.00 price target on shares of Nabors Industries in a report on Friday, October 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $8.56.
NYSE NBR opened at $2.82 on Friday. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26. The firm has a market cap of $1.06 billion, a P/E ratio of -1.73 and a beta of 1.95. Nabors Industries has a 1 year low of $1.81 and a 1 year high of $8.86.
Nabors Industries (NYSE:NBR) last posted its earnings results on Tuesday, October 30th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.11). The business had revenue of $779.43 million during the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative return on equity of 14.21% and a negative net margin of 19.25%. The business’s revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.42) earnings per share.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in Nabors Industries by 12.3% in the 2nd quarter. BlackRock Inc. now owns 31,330,733 shares of the oil and gas company’s stock valued at $200,829,000 after acquiring an additional 3,443,863 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in Nabors Industries by 26.0% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 6,106,150 shares of the oil and gas company’s stock valued at $37,614,000 after acquiring an additional 1,261,551 shares in the last quarter. Renaissance Technologies LLC increased its position in Nabors Industries by 197.0% in the 3rd quarter. Renaissance Technologies LLC now owns 1,168,818 shares of the oil and gas company’s stock valued at $7,200,000 after acquiring an additional 775,338 shares in the last quarter. Russell Investments Group Ltd. increased its position in Nabors Industries by 32.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,517,201 shares of the oil and gas company’s stock valued at $15,497,000 after acquiring an additional 622,058 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Nabors Industries by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 27,153,177 shares of the oil and gas company’s stock valued at $167,261,000 after acquiring an additional 549,820 shares in the last quarter. Institutional investors and hedge funds own 88.88% of the company’s stock.
In other news, Director John Yearwood bought 197,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The stock was acquired at an average price of $5.14 per share, for a total transaction of $1,012,580.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John P. Kotts bought 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average price of $5.61 per share, with a total value of $561,000.00. Following the transaction, the director now directly owns 301,949 shares in the company, valued at $1,693,933.89. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 3rd. Stockholders of record on Thursday, December 13th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 8.51%. The ex-dividend date was Wednesday, December 12th. Nabors Industries’s dividend payout ratio is -14.72%.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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