Jefferies Group Weighs in on Nabors Industries’ Q2 2018 Earnings (NBR)

Nabors Industries (NYSE:NBR) – Research analysts at Jefferies Group raised their Q2 2018 earnings estimates for shares of Nabors Industries in a research note issued to investors on Wednesday, April 4th. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn ($0.24) per share for the quarter, up from their previous estimate of ($0.25). Jefferies Group also issued estimates for Nabors Industries’ Q4 2018 earnings at ($0.14) EPS, FY2019 earnings at ($0.15) EPS and FY2020 earnings at $0.50 EPS.

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Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, February 27th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Nabors Industries had a negative return on equity of 15.56% and a negative net margin of 21.32%. The firm had revenue of $708.28 million for the quarter, compared to analyst estimates of $706.35 million. During the same period in the prior year, the company posted ($0.30) EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year.

NBR has been the topic of several other research reports. Zacks Investment Research downgraded Nabors Industries from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price objective on shares of Nabors Industries in a report on Thursday, January 18th. Cowen set a $9.00 price objective on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada set a $8.00 price objective on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, December 21st. Finally, Stephens assumed coverage on Nabors Industries in a report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. Nabors Industries presently has a consensus rating of “Hold” and a consensus target price of $10.07.

NYSE:NBR opened at $6.69 on Friday. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $14.28. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.39 and a current ratio of 1.57. The firm has a market cap of $2,170.90, a price-to-earnings ratio of -4.10 and a beta of 1.60.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, March 12th. Nabors Industries’s payout ratio is -14.72%.

Several institutional investors have recently modified their holdings of NBR. Thunderbird Partners LLP bought a new stake in shares of Nabors Industries during the 4th quarter valued at $37,219,000. BlackRock Inc. increased its position in shares of Nabors Industries by 15.3% in the 4th quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock valued at $190,080,000 after buying an additional 3,700,602 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Nabors Industries by 11.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after buying an additional 2,243,068 shares in the last quarter. Slate Path Capital LP bought a new stake in shares of Nabors Industries in the 4th quarter valued at $11,748,000. Finally, Two Sigma Investments LP increased its position in shares of Nabors Industries by 8,354.3% in the 4th quarter. Two Sigma Investments LP now owns 1,436,739 shares of the oil and gas company’s stock valued at $9,813,000 after buying an additional 1,454,145 shares in the last quarter. Institutional investors own 87.22% of the company’s stock.

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About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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