Brokers Offer Predictions for Nabors Industries Ltd.’s Q3 2017 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Investment analysts at SunTrust Banks issued their Q3 2017 earnings per share estimates for shares of Nabors Industries in a report issued on Tuesday. SunTrust Banks analyst K. Sill forecasts that the oil and gas company will post earnings per share of ($0.33) for the quarter. SunTrust Banks has a “Buy” rating and a $9.00 price objective on the stock. SunTrust Banks also issued estimates for Nabors Industries’ Q4 2017 earnings at ($0.31) EPS, FY2017 earnings at ($1.55) EPS, Q1 2018 earnings at ($0.28) EPS, Q2 2018 earnings at ($0.25) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.11) EPS and FY2018 earnings at ($0.81) EPS.
Other analysts have also recently issued research reports about the company. UBS AG reaffirmed a “buy” rating and issued a $11.00 price target (down previously from $17.00) on shares of Nabors Industries in a report on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating on shares of Nabors Industries in a report on Tuesday, June 20th. Nomura set a $12.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Wednesday, August 9th. Credit Suisse Group set a $9.00 price objective on Nabors Industries and gave the company a “buy” rating in a report on Thursday, August 10th. They noted that the move was a valuation call. Finally, Guggenheim raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Nabors Industries has an average rating of “Buy” and a consensus target price of $12.62.
Shares of Nabors Industries (NYSE NBR) opened at 7.99 on Thursday. Nabors Industries has a 12-month low of $6.18 and a 12-month high of $18.40. The stock’s 50 day moving average price is $7.24 and its 200 day moving average price is $8.96. The company’s market capitalization is $2.28 billion.
Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.03). Nabors Industries had a negative net margin of 32.35% and a negative return on equity of 13.31%. The business had revenue of $630.50 million during the quarter, compared to the consensus estimate of $589.79 million. During the same quarter in the prior year, the firm earned ($0.35) EPS. The business’s revenue was up 21.9% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 12th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, September 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.00%. Nabors Industries’s dividend payout ratio is currently -9.41%.
Hedge funds have recently modified their holdings of the company. Bollard Group LLC grew its position in shares of Nabors Industries by 1.2% in the 2nd quarter. Bollard Group LLC now owns 312,179 shares of the oil and gas company’s stock worth $2,541,000 after buying an additional 3,816 shares during the last quarter. Mitchell Group Inc. grew its position in shares of Nabors Industries by 52.0% in the 2nd quarter. Mitchell Group Inc. now owns 2,704,490 shares of the oil and gas company’s stock worth $22,015,000 after buying an additional 925,140 shares during the last quarter. Paloma Partners Management Co grew its position in shares of Nabors Industries by 117.2% in the 1st quarter. Paloma Partners Management Co now owns 68,892 shares of the oil and gas company’s stock worth $901,000 after buying an additional 37,175 shares during the last quarter. Teacher Retirement System of Texas grew its position in shares of Nabors Industries by 4.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock worth $194,000 after buying an additional 979 shares during the last quarter. Finally, Arizona State Retirement System grew its position in shares of Nabors Industries by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 120,500 shares of the oil and gas company’s stock worth $981,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 95.71% 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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