Zacks: Analysts Expect Nabors Industries Ltd. (NYSE:NBR) Will Announce Quarterly Sales of $562.34 Million

Analysts forecast that Nabors Industries Ltd. (NYSE:NBRGet Rating) will post sales of $562.34 million for the current quarter, according to Zacks. Four analysts have issued estimates for Nabors Industries’ earnings, with the lowest sales estimate coming in at $551.30 million and the highest estimate coming in at $576.35 million. Nabors Industries posted sales of $461.77 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Nabors Industries will report full-year sales of $2.48 billion for the current year, with estimates ranging from $2.42 billion to $2.58 billion. For the next fiscal year, analysts expect that the business will post sales of $2.81 billion, with estimates ranging from $2.70 billion to $2.99 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Nabors Industries.

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

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

A number of large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Nabors Industries during the fourth quarter worth approximately $33,000. PSI Advisors LLC bought a new stake in shares of Nabors Industries in the third quarter valued at $56,000. US Asset Management LLC purchased a new stake in Nabors Industries in the third quarter valued at approximately $110,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Nabors Industries in the fourth quarter worth $139,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of Nabors Industries during the 3rd quarter valued at $203,000. 76.66% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NBR stock opened at $195.19 on Friday. The stock has a 50 day simple moving average of $145.98 and a 200-day simple moving average of $114.82. Nabors Industries has a 1-year low of $65.58 and a 1-year high of $195.88. The company has a debt-to-equity ratio of 4.54, a current ratio of 2.89 and a quick ratio of 2.65. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -2.53 and a beta of 3.06.

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.

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