Nabors Industries (NYSE:NBR - Get Free Report) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.86) by ($4.81), Zacks reports. Nabors Industries had a negative return on equity of 25.68% and a negative net margin of 4.69%.
Nabors Industries Stock Performance
Shares of NYSE NBR traded down $2.68 during trading on Friday, reaching $47.01. 469,228 shares of the company traded hands, compared to its average volume of 237,536. The firm has a 50 day simple moving average of $59.61 and a 200-day simple moving average of $69.36. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The stock has a market capitalization of $503.39 million, a PE ratio of -2.56 and a beta of 2.02. Nabors Industries has a 52-week low of $44.00 and a 52-week high of $105.96.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Evercore ISI cut their price objective on shares of Nabors Industries from $94.00 to $85.00 and set an "in-line" rating on the stock in a research report on Thursday, October 24th. Susquehanna cut their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a "neutral" rating on the stock in a research report on Thursday, October 24th. Finally, Citigroup increased their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $86.40.
Read Our Latest Stock Report on NBR
Nabors Industries Company Profile
(
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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.
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