-$6.70 Earnings Per Share Expected for Nabors Industries Ltd. (NYSE:NBR) This Quarter

Wall Street brokerages expect that Nabors Industries Ltd. (NYSE:NBRGet Rating) will post ($6.70) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Nabors Industries’ earnings. The highest EPS estimate is ($4.39) and the lowest is ($7.81). Nabors Industries posted earnings of ($18.01) per share during the same quarter last year, which indicates a positive year over year growth rate of 62.8%. The business is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Nabors Industries will report full-year earnings of ($29.25) per share for the current fiscal year, with EPS estimates ranging from ($31.08) to ($27.42). For the next financial year, analysts expect that the firm will post earnings of ($2.02) per share, with EPS estimates ranging from ($13.80) to $4.36. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that that provide coverage for Nabors Industries.

Nabors Industries (NYSE:NBRGet Rating) last announced its earnings results on Wednesday, April 27th. The oil and gas company reported ($13.88) EPS for the quarter, missing the consensus estimate of ($8.95) by ($4.93). The company had revenue of $568.70 million for the quarter, compared to analysts’ expectations of $561.32 million. Nabors Industries had a negative net margin of 29.01% and a negative return on equity of 59.04%.

NBR has been the topic of several analyst reports. Morgan Stanley raised their target price on Nabors Industries from $100.00 to $150.00 and gave the company an “underweight” rating in a report on Monday, April 11th. Barclays raised their target price on Nabors Industries from $132.00 to $180.00 in a report on Monday, May 2nd. Capital One Financial restated an “equal weight” rating on shares of Nabors Industries in a report on Thursday, March 17th. StockNews.com began coverage on Nabors Industries in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Citigroup downgraded Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $175.00 to $115.00 in a report on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $136.25.

Hedge funds and other institutional investors have recently modified their holdings of the company. Lindbrook Capital LLC increased its holdings in shares of Nabors Industries by 73.3% in the 1st quarter. Lindbrook Capital LLC now owns 182 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 77 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Nabors Industries during the 4th quarter valued at approximately $33,000. Counterpoint Mutual Funds LLC acquired a new position in Nabors Industries during the 1st quarter valued at approximately $68,000. Allspring Global Investments Holdings LLC acquired a new position in Nabors Industries during the 4th quarter valued at approximately $139,000. Finally, Captrust Financial Advisors boosted its position in Nabors Industries by 31.8% during the 1st quarter. Captrust Financial Advisors now owns 1,028 shares of the oil and gas company’s stock valued at $157,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Shares of NYSE:NBR traded up $7.52 during mid-day trading on Thursday, hitting $163.60. 137,401 shares of the company traded hands, compared to its average volume of 192,840. The firm has a market cap of $1.72 billion, a P/E ratio of -2.06 and a beta of 2.83. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.58 and a current ratio of 1.84. Nabors Industries has a 52-week low of $65.58 and a 52-week high of $207.67. The firm’s 50 day simple moving average is $156.59 and its 200 day simple moving average is $124.02.

About Nabors Industries (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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