Nabors Industries (NYSE:NBR) Issues Quarterly Earnings Results, Misses Estimates By $1.10 EPS

Nabors Industries (NYSE:NBR) issued its quarterly earnings data on Tuesday. The oil and gas company reported ($1.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($1.10), FiscalAI reports. The firm had revenue of $872.19 million during the quarter, compared to the consensus estimate of $859.20 million. Nabors Industries had a negative return on equity of 7.06% and a net margin of 7.64%.

Nabors Industries Stock Performance

Nabors Industries stock traded down $1.10 during trading on Tuesday, hitting $81.19. The stock had a trading volume of 240,914 shares, compared to its average volume of 305,569. Nabors Industries has a 1 year low of $44.04 and a 1 year high of $112.90. The company has a quick ratio of 1.75, a current ratio of 1.89 and a debt-to-equity ratio of 2.24. The stock’s 50 day moving average is $85.34 and its two-hundred day moving average is $83.66. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 6.04 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Nabors Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Morgan Stanley set a $110.00 price target on Nabors Industries in a report on Thursday, August 20th. Barclays set a $93.00 price target on Nabors Industries and gave the stock an “equal weight” rating in a report on Wednesday, August 5th. Susquehanna reissued a “neutral” rating and issued a $91.00 price objective (up from $85.00) on shares of Nabors Industries in a research report on Monday, October 5th. Finally, Zacks Research downgraded Nabors Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and a consensus target price of $103.43.

Insiders Place Their Bets

In other Nabors Industries news, Director David Tudor sold 3,200 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $92.30, for a total value of $295,360.00. Following the completion of the sale, the director directly owned 5,264 shares of the company’s stock, valued at $485,867.20. This trade represents a 37.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 5.32% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. is a global provider of drilling and well-construction services to the oil and gas industry. The company operates land-based drilling rigs and offshore drilling units, serving exploration and production companies developing conventional and unconventional oil and natural gas resources.

Its services and products include contract drilling, directional drilling, measurement-while-drilling and logging-while-drilling technologies, wellbore placement, and drilling-related equipment.