Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Rating of “Hold” from Analysts

Nabors Industries Ltd. (NYSE:NBR) has been assigned an average rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $98.80.

A number of brokerages have recently weighed in on NBR. Citigroup cut Nabors Industries from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $110.00 to $75.00 in a research report on Friday, September 13th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 target price on shares of Nabors Industries in a research note on Wednesday, October 16th. Finally, Barclays lowered their price target on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th.

Nabors Industries Trading Up 2.0 %

NYSE NBR opened at $74.57 on Thursday. The company has a market cap of $798.05 million, a P/E ratio of -5.40 and a beta of 2.11. Nabors Industries has a 12 month low of $59.67 and a 12 month high of $118.00. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.57. The company has a 50-day moving average of $73.64 and a 200-day moving average of $75.45.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52). The firm had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($2.26) EPS. As a group, equities analysts predict that Nabors Industries will post -12.24 earnings per share for the current year.

Institutional Investors Weigh In On Nabors Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position 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 buying an additional 209,450 shares during the period. Apollo Management Holdings L.P. raised its stake in Nabors Industries by 64.6% during the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after acquiring an additional 131,490 shares in the last quarter. Gendell Jeffrey L lifted its holdings in shares of Nabors Industries by 10.1% during the first quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock valued at $37,591,000 after acquiring an additional 40,141 shares during the period. Vanguard Group Inc. boosted its stake in shares of Nabors Industries by 5.1% in the 1st quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock valued at $70,550,000 after purchasing an additional 40,078 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Nabors Industries by 42.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 115,084 shares of the oil and gas company’s stock worth $8,189,000 after purchasing an additional 34,473 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.