Brokers Issue Forecasts for Nabors Industries Ltd.’s FY2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – DA Davidson lifted their FY2017 earnings per share (EPS) estimates for shares of Nabors Industries in a note issued to investors on Monday. DA Davidson analyst S. Randhawa now anticipates that the brokerage will post earnings of ($1.02) per share for the year, up from their previous forecast of ($1.03). DA Davidson currently has a “Buy” rating and a $16.00 target price on the stock. DA Davidson also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.21) EPS and FY2018 earnings at $0.05 EPS.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, October 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by $0.01. Nabors Industries had a negative net margin of 36.84% and a negative return on equity of 8.04%. The business had revenue of $519.70 million for the quarter, compared to analysts’ expectations of $543.48 million. During the same quarter last year, the business earned ($0.14) EPS. The company’s quarterly revenue was down 38.7% on a year-over-year basis.
Several other research firms have also recently weighed in on NBR. Citigroup Inc. boosted their target price on Nabors Industries from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. Zacks Investment Research upgraded Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Friday, August 19th. Jefferies Group set a $12.00 target price on Nabors Industries and gave the stock a “hold” rating in a research note on Friday, November 11th. JPMorgan Chase & Co. restated a “buy” rating on shares of Nabors Industries in a research note on Friday, November 11th. Finally, Goldman Sachs Group Inc. set a $17.00 target price on Nabors Industries and gave the stock a “buy” rating in a research note on Wednesday, October 19th. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.07.
Nabors Industries (NYSE:NBR) opened at 13.62 on Thursday. Nabors Industries has a 12 month low of $4.93 and a 12 month high of $13.83. The stock’s 50 day moving average price is $12.21 and its 200-day moving average price is $10.24. The stock’s market cap is $3.86 billion.
Several hedge funds have recently modified their holdings of NBR. Vanguard Group Inc. increased its stake in shares of Nabors Industries by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,284,448 shares of the company’s stock valued at $203,858,000 after buying an additional 582,523 shares in the last quarter. 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 valued at $133,684,000 after buying an additional 6,292,257 shares during the last quarter. FMR LLC raised its position in Nabors Industries by 12.0% in the second quarter. FMR LLC now owns 11,858,824 shares of the company’s stock valued at $119,181,000 after buying an additional 1,270,934 shares during the last quarter. Van ECK Associates Corp raised its position in Nabors Industries by 13.5% in the second quarter. Van ECK Associates Corp now owns 11,699,198 shares of the company’s stock valued at $117,577,000 after buying an additional 1,394,726 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Nabors Industries by 4.3% in the third quarter. BlackRock Fund Advisors now owns 11,135,550 shares of the company’s stock valued at $135,408,000 after buying an additional 454,005 shares during the last quarter. Institutional investors and hedge funds own 94.88% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 14th will be given a $0.06 dividend. The ex-dividend date is Monday, December 12th. This represents a $0.24 annualized dividend and a dividend yield of 1.76%. Nabors Industries’s dividend payout ratio is currently -7.92%.
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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