Nabors Industries (NBR) Given Average Rating of “Hold” by Brokerages

Shares of Nabors Industries (NYSE:NBR) have received an average rating of “Hold” from the twenty-five research firms that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $10.14.

Several brokerages have issued reports on NBR. Seaport Global Securities restated a “buy” rating and set a $13.00 target price on shares of Nabors Industries in a research report on Thursday, January 18th. JPMorgan Chase lowered Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price for the company. in a research report on Wednesday, January 17th. Zacks Investment Research lowered Nabors Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Cowen set a $9.00 target price on Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th.

Shares of NYSE:NBR traded down $0.01 during trading hours on Wednesday, hitting $7.72. 6,730,603 shares of the company’s stock traded hands, compared to its average volume of 8,972,244. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $12.04. The firm has a market capitalization of $2,439.11, a PE ratio of -4.74 and a beta of 1.60. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.57 and a quick ratio of 1.39.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by ($0.01). Nabors Industries had a negative net margin of 21.32% and a negative return on equity of 15.56%. The business had revenue of $708.28 million for the quarter, compared to analysts’ expectations of $706.35 million. During the same quarter last year, the firm earned ($0.30) EPS. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. equities research analysts expect that Nabors Industries will post -0.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Investors of record on Tuesday, March 13th were issued a $0.06 dividend. The ex-dividend date was Monday, March 12th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.11%. Nabors Industries’s payout ratio is -14.72%.

A number of large investors have recently modified their holdings of NBR. Oakbrook Investments LLC bought a new position in Nabors Industries in the fourth quarter worth approximately $103,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Nabors Industries by 169.6% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 15,385 shares of the oil and gas company’s stock worth $105,000 after buying an additional 9,679 shares in the last quarter. State of Alaska Department of Revenue bought a new position in Nabors Industries in the fourth quarter worth approximately $109,000. Oppenheimer & Co. Inc. raised its stake in Nabors Industries by 59.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 17,905 shares of the oil and gas company’s stock worth $122,000 after buying an additional 6,708 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in Nabors Industries in the fourth quarter worth approximately $142,000. 87.21% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

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