Brokers Set Expectations for Nabors Industries Ltd.’s Q4 2017 Earnings (NBR)

Nabors Industries Ltd. (NYSE:NBR) – Stock analysts at Seaport Global Securities decreased their Q4 2017 EPS estimates for Nabors Industries in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will post earnings of ($0.35) per share for the quarter, down from their prior forecast of ($0.33). Seaport Global Securities has a “Buy” rating and a $13.00 price target on the stock. Seaport Global Securities also issued estimates for Nabors Industries’ Q1 2018 earnings at ($0.29) EPS, Q2 2018 earnings at ($0.24) EPS, Q3 2018 earnings at ($0.18) EPS, Q4 2018 earnings at ($0.14) EPS, FY2018 earnings at ($0.85) EPS, Q1 2019 earnings at ($0.13) EPS, Q2 2019 earnings at ($0.10) EPS, Q3 2019 earnings at ($0.03) EPS, Q4 2019 earnings at $0.00 EPS and FY2019 earnings at ($0.25) EPS.

Several other research firms have also issued reports on NBR. JPMorgan Chase & Co. lowered Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Wednesday, January 17th. Zacks Investment Research lowered Nabors Industries from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. ValuEngine lowered Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Cowen set a $9.00 target price on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. Finally, Stephens assumed coverage on Nabors Industries in a report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 target price on the stock. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $10.89.

Nabors Industries (NYSE NBR) traded down $0.24 on Friday, hitting $6.53. The stock had a trading volume of 16,251,219 shares, compared to its average volume of 9,140,978. The firm has a market cap of $2,074.31, a price-to-earnings ratio of -2.44 and a beta of 1.59. Nabors Industries has a 12 month low of $5.32 and a 12 month high of $16.11. The company has a current ratio of 1.41, a quick ratio of 1.27 and a debt-to-equity ratio of 1.35.

A number of institutional investors have recently bought and sold shares of NBR. BlackRock Inc. raised its position in Nabors Industries by 15.3% in the fourth quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock valued at $190,080,000 after purchasing an additional 3,700,602 shares during the last quarter. Prudential Financial Inc. raised its position in Nabors Industries by 278.9% in the third quarter. Prudential Financial Inc. now owns 3,960,689 shares of the oil and gas company’s stock valued at $31,963,000 after purchasing an additional 2,915,370 shares during the last quarter. Victory Capital Management Inc. raised its position in Nabors Industries by 101.4% in the third quarter. Victory Capital Management Inc. now owns 4,677,954 shares of the oil and gas company’s stock valued at $37,751,000 after purchasing an additional 2,354,975 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Nabors Industries by 11.7% in the third quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock valued at $172,511,000 after purchasing an additional 2,243,068 shares during the last quarter. Finally, FMR LLC raised its position in Nabors Industries by 33.3% in the second quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock valued at $69,068,000 after purchasing an additional 2,118,198 shares during the last quarter. Hedge funds and other institutional investors own 87.40% of the company’s stock.

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Nabors Industries Company Profile

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.

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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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