Nabors Industries (NYSE:NBR) released its quarterly earnings data on Tuesday. The oil and gas company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.01), Briefing.com reports. Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The company had revenue of $708.28 million for the quarter, compared to analyst estimates of $706.35 million. During the same period in the previous year, the business posted ($0.30) EPS. The firm’s revenue for the quarter was up 31.4% compared to the same quarter last year.
Nabors Industries (NBR) opened at $6.66 on Wednesday. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $15.25. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27. The firm has a market cap of $2,198.20, a price-to-earnings ratio of -2.49 and a beta of 1.59.
A number of research firms have weighed in on NBR. Zacks Investment Research cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th. ValuEngine cut shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Seaport Global Securities reissued a “buy” rating and set a $13.00 price objective on shares of Nabors Industries in a report on Thursday, January 18th. JPMorgan Chase & Co. cut shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a report on Wednesday, January 17th. Finally, Cowen set a $9.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $10.89.
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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