Zacks: Analysts Expect Nabors Industries Ltd. (NYSE:NBR) Will Announce Earnings of -$15.03 Per Share

Equities research analysts forecast that Nabors Industries Ltd. (NYSE:NBR) will post ($15.03) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Nabors Industries’ earnings. The lowest EPS estimate is ($17.50) and the highest is ($10.50). Nabors Industries posted earnings of ($20.50) per share in the same quarter last year, which indicates a positive year over year growth rate of 26.7%. The firm is scheduled to report its next quarterly earnings report on Monday, August 3rd.

On average, analysts expect that Nabors Industries will report full-year earnings of ($91.33) per share for the current financial year, with EPS estimates ranging from ($115.50) to ($67.60). For the next year, analysts anticipate that the company will report earnings of ($106.57) per share, with EPS estimates ranging from ($152.50) to ($73.03). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Nabors Industries.

Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, May 5th. The oil and gas company reported ($19.86) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($15.03) by ($4.83). Nabors Industries had a negative return on equity of 20.73% and a negative net margin of 33.01%. The business had revenue of $715.17 million for the quarter, compared to analyst estimates of $704.69 million.

Several brokerages have issued reports on NBR. Capital One Financial cut Nabors Industries from an “overweight” rating to an “equal weight” rating in a report on Tuesday, March 17th. Bank of America cut Nabors Industries from a “neutral” rating to an “underperform” rating in a report on Monday, March 9th. Credit Suisse Group dropped their target price on Nabors Industries from $50.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. ValuEngine cut Nabors Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, June 8th. Finally, Morgan Stanley cut Nabors Industries from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $200.00 to $25.00 in a report on Monday, March 16th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. Nabors Industries has a consensus rating of “Hold” and an average target price of $83.18.

NYSE:NBR traded up $0.48 during trading hours on Tuesday, hitting $36.37. The company had a trading volume of 22,860 shares, compared to its average volume of 1,168,861. The company has a current ratio of 2.17, a quick ratio of 1.88 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average of $38.83 and a 200 day moving average of $11.96. The company has a market cap of $246.49 million, a P/E ratio of -0.25 and a beta of 3.17. Nabors Industries has a 1 year low of $9.79 and a 1 year high of $167.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Nabors Industries by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 4,911,392 shares of the oil and gas company’s stock worth $14,144,000 after acquiring an additional 555,760 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Nabors Industries in the fourth quarter valued at $1,187,000. Charles Schwab Investment Management Inc. grew its position in shares of Nabors Industries by 4.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,711,665 shares of the oil and gas company’s stock valued at $10,690,000 after purchasing an additional 162,774 shares during the period. Guggenheim Capital LLC grew its position in shares of Nabors Industries by 136.0% in the fourth quarter. Guggenheim Capital LLC now owns 56,125 shares of the oil and gas company’s stock valued at $162,000 after purchasing an additional 32,341 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Nabors Industries by 158.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 84,767 shares of the oil and gas company’s stock valued at $244,000 after purchasing an additional 51,916 shares during the period.

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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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