Brokerages predict that Nabors Industries Ltd. (NYSE:NBR) will report sales of $709.12 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Nabors Industries’ earnings. The highest sales estimate is $721.00 million and the lowest is $689.00 million. Nabors Industries posted sales of $539.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 31.5%. The company is scheduled to report its next earnings results on Wednesday, February 28th.
On average, analysts expect that Nabors Industries will report full-year sales of $709.12 million for the current fiscal year, with estimates ranging from $2.55 billion to $2.59 billion. For the next financial year, analysts anticipate that the business will report sales of $3.26 billion per share, with estimates ranging from $3.00 billion to $3.74 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Nabors Industries.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $674.03 million. During the same quarter last year, the company earned ($0.55) EPS. Nabors Industries’s revenue for the quarter was up 27.4% on a year-over-year basis.
NBR has been the subject of several research analyst reports. ValuEngine downgraded Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Cowen and Company decreased their price objective on Nabors Industries from $13.00 to $10.50 and set an “outperform” rating for the company in a report on Tuesday, August 8th. Morgan Stanley decreased their price objective on Nabors Industries from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, August 7th. Citigroup Inc. set a $10.00 target price on Nabors Industries and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Guggenheim upgraded Nabors Industries from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Nabors Industries presently has an average rating of “Buy” and an average target price of $11.52.
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A number of large investors have recently modified their holdings of the business. Prudential Financial Inc. grew its holdings in shares of Nabors Industries by 278.9% during the 3rd quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock worth $31,963,000 after purchasing an additional 2,915,370 shares during the period. Sirios Capital Management L P grew its holdings in shares of Nabors Industries by 246.1% during the 2nd quarter. Sirios Capital Management L P now owns 4,034,937 shares of the oil and gas company’s stock worth $32,844,000 after purchasing an additional 2,869,187 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Nabors Industries by 101.4% during the 3rd quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock worth $37,751,000 after purchasing an additional 2,354,975 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Nabors Industries by 16.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,440,910 shares of the oil and gas company’s stock worth $133,828,000 after purchasing an additional 2,315,688 shares during the period. Finally, FMR LLC grew its holdings in shares of Nabors Industries by 33.3% during the 2nd quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after purchasing an additional 2,118,198 shares during the period. Institutional investors own 96.45% of the company’s stock.
Shares of Nabors Industries (NYSE:NBR) opened at $6.33 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.22. Nabors Industries has a one year low of $5.32 and a one year high of $18.40.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend is Tuesday, December 12th. Nabors Industries’s payout ratio is currently -8.96%.
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.
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