Nabors Industries Ltd. Expected to Post Q2 2018 Earnings of $0.03 Per Share (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Stock analysts at Seaport Global Securities increased their Q2 2018 EPS estimates for Nabors Industries in a research report issued on Tuesday. Seaport Global Securities analyst M. Brown now anticipates that the firm will post earnings of $0.03 per share for the quarter, up from their prior estimate of $0.02. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q3 2018 earnings at $0.11 EPS and FY2018 earnings at $0.32 EPS.
Several other brokerages have also recently issued reports on NBR. Goldman Sachs Group Inc. set a $17.00 price objective on Nabors Industries and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research raised Nabors Industries from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, October 4th. Citigroup Inc. reissued a “buy” rating and issued a $14.00 price objective on shares of Nabors Industries in a research note on Wednesday, October 5th. Argus reissued a “hold” rating on shares of Nabors Industries in a research note on Friday, September 23rd. Finally, Nomura set a $8.00 price objective on Nabors Industries and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Nabors Industries currently has a consensus rating of “Buy” and an average price target of $11.81.
Nabors Industries (NYSE:NBR) traded up 0.91% on Wednesday, hitting $13.26. The stock had a trading volume of 6,311,562 shares. The company has a 50-day moving average price of $11.10 and a 200 day moving average price of $9.92. The firm’s market cap is $3.76 billion. Nabors Industries has a 52-week low of $4.93 and a 52-week high of $13.62.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.19. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The firm earned $571.60 million during the quarter, compared to analysts’ expectations of $497.83 million. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue was down 40.1% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th were paid a dividend of $0.06 per share. The ex-dividend date was Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.83%. Nabors Industries’s payout ratio is currently -6.56%.
Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Nabors Industries by 89.8% in the second quarter. Dimensional Fund Advisors LP now owns 13,302,571 shares of the company’s stock worth $133,684,000 after buying an additional 6,292,257 shares during the last quarter. CI Investments Inc. raised its position in Nabors Industries by 858,360.0% in the second quarter. CI Investments Inc. now owns 4,292,300 shares of the company’s stock worth $43,138,000 after buying an additional 4,291,800 shares during the last quarter. JPMorgan Chase & Co. raised its position in Nabors Industries by 217.5% in the first quarter. JPMorgan Chase & Co. now owns 4,646,232 shares of the company’s stock worth $42,745,000 after buying an additional 3,182,840 shares during the last quarter. First Trust Advisors LP raised its position in Nabors Industries by 350.7% in the second quarter. First Trust Advisors LP now owns 3,714,586 shares of the company’s stock worth $37,332,000 after buying an additional 2,890,377 shares during the last quarter. Finally, Emerald Acquisition Ltd. bought a new position in Nabors Industries during the second quarter worth $27,568,000. Institutional investors and hedge funds own 92.97% of the company’s stock.
About Nabors Industries
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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