Nabors Industries (NYSE: NBR) has been assigned to $ 8.00 by Royal Bank of Canada in a report released on Thursday, December 21st. The firm presents a “buy” rating on the oil and gas company’s stock. Royal Bank of Canada’s objective price indicates a potential downside of 2.32% from the company’s current price.
A number of other equities research analysts recently commented on NBR. UBS Group has lowered its target price on Nabors Industries from $ 11.00 to $ 10.00 and has a “buy” rating on the stock in a report on Friday, October 27th. ValuEngine cut Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Citigroup set up at $ 10.00 Nabors Industries and gave the company a “buy” rating in a report on Thursday, October 5th. Piper Jaffray Companies reiterated a “hold” rating and set at $ 9.50 on Nabors Industries in a report on Friday, October 27th. Finally, Cowen has a $ 9.00 target price on Nabors Industries and gives the company a “buy” rating in a report on Thursday, October 26th. Two equities research analysts have rated the value of their shares and have given a rating and have given a rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price of $ 10.75.
Nabors Industries ( NYSE: NBR ) opened at $ 8.19 on Thursday. The stock has a market capitalization of $ 2,340.00, a P / E ratio of -3.06 and a beta of 1.59. Nabors Industries has a year of $ 5.32 and a high year of $ 18.38. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.27 and a current ratio of 1.41.
Nabors Industries (NYSE: NBR) last issued its earnings on Tuesday, October 24th. The oil and gas company reported ($ 0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($ 0.33) by ($ 0.09). Nabors Industries had a negative return on equity of 14.74% and a negative net margin of 31.99%. The business had revenue of $ 662.50 million for the quarter, compared to analysts’ expectations of $ 674.03 million. During the same period last year, the company posted ($ 0.55) earnings per share. The business’s quarterly revenue was up 27.4% on a year-over-year basis. Research analysts anticipate that Nabors Industries will post -1.63 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Utah Retirement Systems Reached Nabors Industries by 1.0% in the second quarter. Utah Retirement Systems now owns 50,740 shares of the oil and gas company’s stock value at $ 413,000 after purchasing an additional 500 shares during the period. M & T Bank Corp. in Nabors Industries by 6.0% in the second quarter. M & T Bank Corp. now owns 16,320 shares of the oil and gas company’s stock value at $ 133,000 after additional 925 shares during the period. Teacher Retirement System of Texas in Nabors Industries by 4.3% in the second quarter. Teacher Retirement System of Texas now owns 23,815 shares of the oil and gas company’s stock value at $ 194,000 after purchasing an additional 979 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Nabors Industries by 3.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,833 shares of the oil and gas company’s stock value at $ 267,000 after purchasing an additional 1,015 shares during the period. Finally, Frontier Wealth Management LLC reached its position in Nabors Industries by 11.4% in the second quarter. Frontier Wealth Management LLC now owns 12,561 shares of the oil and gas company’s stock value at $ 102,000 after purchasing an additional 1,284 shares during the period. 87.63% of the stock is currently owned by institutional investors and hedge funds.
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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 drilling rigs in the United States and multiple international markets. The Company conducts its Drilling and Rig Services business through four segments: Drilling U.S., Drilling Canada, International Drilling and Rig Services.
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