-$10.53 EPS Expected for Nabors Industries Ltd. (NYSE:NBR) This Quarter

Brokerages expect that Nabors Industries Ltd. (NYSE:NBRGet Rating) will report earnings of ($10.53) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Nabors Industries’ earnings, with the highest EPS estimate coming in at ($8.09) and the lowest estimate coming in at ($13.60). Nabors Industries posted earnings per share of ($20.16) in the same quarter last year, which suggests a positive year-over-year growth rate of 47.8%. The company is scheduled to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($28.00) per share for the current year, with EPS estimates ranging from ($36.03) to ($24.11). For the next year, analysts expect that the firm will report earnings of ($10.85) per share, with EPS estimates ranging from ($21.28) to ($0.53). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Nabors Industries.

Nabors Industries (NYSE:NBRGet Rating) last released its earnings results on Tuesday, February 8th. The oil and gas company reported ($14.60) EPS for the quarter, missing analysts’ consensus estimates of ($10.98) by ($3.62). Nabors Industries had a negative return on equity of 54.43% and a negative net margin of 28.19%. The business had revenue of $543.70 million during the quarter, compared to the consensus estimate of $550.96 million. During the same quarter in the previous year, the firm earned ($23.82) earnings per share.

NBR has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Nabors Industries from $100.00 to $150.00 and gave the stock an “underweight” rating in a research report on Monday, April 11th. StockNews.com initiated coverage on shares of Nabors Industries in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Capital One Financial restated an “equal weight” rating on shares of Nabors Industries in a research note on Thursday, March 17th. Finally, Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $175.00 to $115.00 in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $120.00.

A number of large investors have recently modified their holdings of NBR. New York State Common Retirement Fund grew its stake in shares of Nabors Industries by 2.1% during the 4th quarter. New York State Common Retirement Fund now owns 4,987 shares of the oil and gas company’s stock worth $404,000 after acquiring an additional 101 shares in the last quarter. Credit Suisse AG grew its stake in shares of Nabors Industries by 0.3% in the third quarter. Credit Suisse AG now owns 39,163 shares of the oil and gas company’s stock valued at $3,778,000 after buying an additional 135 shares in the last quarter. New York State Teachers Retirement System lifted its holdings in Nabors Industries by 2.0% during the 4th quarter. New York State Teachers Retirement System now owns 9,985 shares of the oil and gas company’s stock valued at $810,000 after purchasing an additional 200 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Nabors Industries by 9.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,932 shares of the oil and gas company’s stock valued at $238,000 after purchasing an additional 245 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of Nabors Industries by 2.6% during the third quarter. California State Teachers Retirement System now owns 10,193 shares of the oil and gas company’s stock worth $983,000 after buying an additional 254 shares in the last quarter. 76.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nabors Industries stock traded up $7.66 during trading on Friday, hitting $202.85. The stock had a trading volume of 2,889 shares, compared to its average volume of 192,165. The stock’s 50 day simple moving average is $145.98. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.89 and a quick ratio of 2.65. Nabors Industries has a 1 year low of $65.58 and a 1 year high of $200.00.

Nabors Industries Company Profile (Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

Read More

Get a free copy of the Zacks research report on Nabors Industries (NBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.