Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have received a consensus recommendation of "Hold" from the six brokerages that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $104.50.
A number of analysts have commented on the stock. Royal Bank of Canada restated a "sector perform" rating and set a $114.00 price target on shares of Nabors Industries in a research report on Thursday, July 25th. Citigroup downgraded Nabors Industries from a "buy" rating to a "neutral" rating and cut their target price for the stock from $110.00 to $75.00 in a research report on Friday, September 13th.
View Our Latest Analysis on NBR
Institutional Investors Weigh In On Nabors Industries
Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its position in Nabors Industries by 202.4% during the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company's stock worth $61,000 after purchasing an additional 502 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Nabors Industries by 2,022.2% during the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company's stock valued at $67,000 after buying an additional 728 shares in the last quarter. GAMMA Investing LLC raised its position in Nabors Industries by 29.1% during the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company's stock valued at $127,000 after buying an additional 332 shares during the period. SG Americas Securities LLC purchased a new stake in Nabors Industries in the 2nd quarter worth about $159,000. Finally, The Manufacturers Life Insurance Company boosted its position in Nabors Industries by 5.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company's stock worth $254,000 after acquiring an additional 181 shares during the period. 81.92% of the stock is owned by institutional investors and hedge funds.
Nabors Industries Stock Performance
Shares of NYSE:NBR traded down $1.26 during trading hours on Friday, hitting $67.32. The stock had a trading volume of 506,763 shares, compared to its average volume of 263,374. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. The stock's fifty day simple moving average is $79.42 and its 200 day simple moving average is $77.43. The firm has a market capitalization of $720.46 million, a price-to-earnings ratio of -4.87 and a beta of 2.12. Nabors Industries has a 1-year low of $59.90 and a 1-year high of $129.85.
Nabors Industries (NYSE:NBR - Get Free Report) last announced its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The business had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. During the same period in the previous year, the firm earned ($2.26) EPS. The firm's revenue was down 4.6% on a year-over-year basis. Sell-side analysts anticipate that Nabors Industries will post -11.98 earnings per share for the current fiscal year.
About Nabors Industries
(
Get Free ReportNabors 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.
Featured Stories
Before you consider Nabors Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nabors Industries wasn't on the list.
While Nabors Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
