Q2 2024 Earnings Estimate for Nabors Industries Ltd. (NYSE:NBR) Issued By Zacks Research

Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Zacks Research reduced their Q2 2024 EPS estimates for Nabors Industries in a research note issued to investors on Monday, May 6th. Zacks Research analyst R. Department now expects that the oil and gas company will post earnings of ($2.12) per share for the quarter, down from their prior estimate of ($1.96). The consensus estimate for Nabors Industries’ current full-year earnings is ($3.91) per share. Zacks Research also issued estimates for Nabors Industries’ Q3 2024 earnings at ($1.56) EPS, Q4 2024 earnings at ($0.94) EPS, FY2024 earnings at ($9.78) EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $2.14 EPS, Q3 2025 earnings at $2.11 EPS, Q4 2025 earnings at $1.50 EPS, FY2025 earnings at $6.04 EPS and Q1 2026 earnings at $3.60 EPS.

Nabors Industries (NYSE:NBR) last released its earnings results on Wednesday, April 24th. The oil and gas company reported ($5.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.24) by ($2.92). The firm had revenue of $743.91 million for the quarter, compared to analyst estimates of $730.59 million. Nabors Industries had a negative return on equity of 23.52% and a negative net margin of 3.45%.

Several other brokerages also recently commented on NBR. Susquehanna dropped their price target on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research report on Thursday, April 25th. Finally, Morgan Stanley reduced their price target on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Nabors Industries currently has a consensus rating of “Hold” and a consensus price target of $127.80.

Nabors Industries Price Performance

NYSE NBR opened at $73.28 on Thursday. The stock has a 50-day simple moving average of $81.97 and a 200 day simple moving average of $84.47. Nabors Industries has a twelve month low of $70.25 and a twelve month high of $141.47. The stock has a market capitalization of $784.10 million, a PE ratio of -5.31 and a beta of 2.37. The company has a debt-to-equity ratio of 4.81, a quick ratio of 1.23 and a current ratio of 1.78.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings 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 period. Gendell Jeffrey L grew its stake in shares of Nabors Industries by 3.2% in the 4th quarter. Gendell Jeffrey L now owns 396,301 shares of the oil and gas company’s stock valued at $32,350,000 after purchasing an additional 12,119 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Nabors Industries by 4.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 295,256 shares of the oil and gas company’s stock valued at $24,102,000 after purchasing an additional 13,324 shares during the period. Van ECK Associates Corp raised its holdings in shares of Nabors Industries by 6.7% in the 4th quarter. Van ECK Associates Corp now owns 214,415 shares of the oil and gas company’s stock worth $17,503,000 after buying an additional 13,552 shares in the last quarter. Finally, Apollo Management Holdings L.P. bought a new position in shares of Nabors Industries during the 4th quarter worth approximately $16,620,000. 81.92% of the stock is owned by institutional investors.

About Nabors Industries

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.