Nabors Industries (NBR) Scheduled to Post Quarterly Earnings on Wednesday

Nabors Industries (NYSE:NBR) is scheduled to post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Nabors Industries to post earnings of ($1.98) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). The business had revenue of $737.84 million during the quarter, compared to analysts’ expectations of $749.52 million. Nabors Industries had a negative return on equity of 17.50% and a negative net margin of 0.66%. On average, analysts expect Nabors Industries to post $-4 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Nabors Industries Price Performance

Shares of NBR opened at $74.86 on Wednesday. The stock has a market cap of $708.92 million, a PE ratio of -14.51 and a beta of 2.33. The company has a debt-to-equity ratio of 4.63, a quick ratio of 1.23 and a current ratio of 1.36. Nabors Industries has a fifty-two week low of $71.42 and a fifty-two week high of $141.47. The firm’s 50-day simple moving average is $83.55 and its two-hundred day simple moving average is $88.85.

Analyst Upgrades and Downgrades

NBR has been the topic of a number of recent research reports. Benchmark cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Susquehanna reiterated a “neutral” rating and set a $88.00 price target on shares of Nabors Industries in a report on Monday, April 8th. Morgan Stanley cut their price target on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Monday, February 12th. Finally, Atb Cap Markets cut shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a report on Friday, December 22nd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $129.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NBR. Goldman Sachs Group Inc. boosted its stake in shares of Nabors Industries by 111.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock worth $32,415,000 after acquiring an additional 209,450 shares during the last quarter. Webs Creek Capital Management LP purchased a new position in shares of Nabors Industries during the 2nd quarter worth $13,872,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Nabors Industries by 158.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 234,826 shares of the oil and gas company’s stock worth $35,863,000 after acquiring an additional 143,840 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Nabors Industries by 8.8% during the 3rd quarter. BlackRock Inc. now owns 1,696,916 shares of the oil and gas company’s stock worth $172,152,000 after acquiring an additional 136,874 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Nabors Industries during the 1st quarter worth $14,112,000. Institutional investors own 81.92% of the company’s stock.

Nabors Industries Company Profile

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.