Zacks Research Issues Pessimistic Forecast for NBR Earnings

Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Zacks Research decreased their FY2027 earnings per share (EPS) estimates for Nabors Industries in a research report issued on Tuesday, June 10th. Zacks Research analyst R. Department now forecasts that the oil and gas company will post earnings per share of $4.15 for the year, down from their previous forecast of $4.25. The consensus estimate for Nabors Industries’ current full-year earnings is ($6.22) per share.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.64) by ($4.86). Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The company had revenue of $742.78 million for the quarter, compared to analysts’ expectations of $706.49 million. During the same period in the previous year, the business earned ($4.54) EPS. The business’s revenue was up .3% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on NBR. Royal Bank of Canada dropped their price target on Nabors Industries from $47.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 1st. Barclays restated an “underweight” rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Susquehanna lowered their price objective on shares of Nabors Industries from $32.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Nabors Industries from $38.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, May 28th. Finally, Citigroup reduced their target price on shares of Nabors Industries from $50.00 to $38.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $42.86.

Nabors Industries Trading Up 1.7%

NYSE:NBR opened at $34.44 on Thursday. The company has a market cap of $540.69 million, a PE ratio of -1.54 and a beta of 1.52. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. The company has a 50 day simple moving average of $28.71 and a two-hundred day simple moving average of $45.44. Nabors Industries has a 12 month low of $23.27 and a 12 month high of $105.96.

Hedge Funds Weigh In On Nabors Industries

Several hedge funds have recently modified their holdings of the stock. Inspire Investing LLC increased its holdings in Nabors Industries by 19.3% in the 1st quarter. Inspire Investing LLC now owns 8,279 shares of the oil and gas company’s stock valued at $345,000 after acquiring an additional 1,337 shares during the last quarter. Invst LLC purchased a new position in shares of Nabors Industries during the first quarter valued at about $721,000. Strs Ohio purchased a new stake in shares of Nabors Industries in the first quarter worth about $259,000. Dynamic Technology Lab Private Ltd boosted its stake in Nabors Industries by 11.5% during the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company’s stock valued at $231,000 after buying an additional 570 shares during the last quarter. Finally, Petrus Trust Company LTA bought a new position in Nabors Industries during the first quarter valued at approximately $461,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.