Nabors Industries Ltd. (NBR) Plans Quarterly Dividend of $0.06

Nabors Industries Ltd. (NYSE:NBR) declared a quarterly dividend on Saturday, October 28th, Zacks reports. Stockholders of record on Wednesday, December 13th will be given a dividend of 0.06 per share by the oil and gas company on Wednesday, January 3rd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Tuesday, December 12th.

Nabors Industries has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Nabors Industries has a dividend payout ratio of -14.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Nabors Industries to earn ($0.75) per share next year, which means the company may not be able to cover its $0.24 annual dividend with an expected future payout ratio of -32.0%.

Nabors Industries (NBR) traded down $0.27 during trading on Thursday, hitting $5.95. The stock had a trading volume of 8,594,700 shares, compared to its average volume of 8,617,910. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35. Nabors Industries has a 52 week low of $5.32 and a 52 week high of $18.40.

Nabors Industries (NYSE:NBR) last released its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.09). The company had revenue of $662.50 million for the quarter, compared to analyst estimates of $674.03 million. Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.55) EPS. equities analysts forecast that Nabors Industries will post -1.61 earnings per share for the current fiscal year.

A number of analysts have weighed in on the company. SunTrust Banks reaffirmed a “buy” rating and issued a $9.00 price target (down previously from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Sanford C. Bernstein restated an “outperform” rating and set a $12.50 price target on shares of Nabors Industries in a research report on Wednesday, September 6th. Seaport Global Securities raised Nabors Industries from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, August 18th. Bank of America lowered their target price on Nabors Industries from $8.50 to $8.00 and set a “buy” rating for the company in a report on Wednesday, November 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $12.00 price target (down previously from $14.00) on shares of Nabors Industries in a report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. Nabors Industries currently has a consensus rating of “Buy” and a consensus target price of $11.30.

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About Nabors Industries

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.

Dividend History for Nabors Industries (NYSE:NBR)

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