Analysts Expect Nabors Industries (NBR) to Announce -$0.29 Earnings Per Share

Wall Street analysts expect that Nabors Industries (NYSE:NBR) will announce earnings of ($0.29) per share for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Nabors Industries’ earnings. The highest EPS estimate is ($0.24) and the lowest is ($0.34). Nabors Industries reported earnings of ($0.49) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 40.8%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.

On average, analysts expect that Nabors Industries will report full year earnings of ($0.78) per share for the current fiscal year, with EPS estimates ranging from ($0.94) to ($0.60). For the next financial year, analysts expect that the firm will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.58) to $0.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Nabors Industries.

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Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, February 27th. The oil and gas company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Nabors Industries had a negative return on equity of 15.56% and a negative net margin of 21.32%. The firm had revenue of $708.28 million for the quarter, compared to analysts’ expectations of $706.35 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis.



Several research analysts have recently commented on the company. Morgan Stanley raised their price target on Nabors Industries from $8.50 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 11th. Cowen restated a “buy” rating and set a $10.00 price target on shares of Nabors Industries in a research report on Friday, April 13th. Stephens assumed coverage on Nabors Industries in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $8.00 price target for the company. Seaport Global Securities restated a “buy” rating and set a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. Finally, JPMorgan Chase cut Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price objective on the stock. in a research note on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $10.14.

A number of institutional investors have recently bought and sold shares of NBR. Legal & General Group Plc raised its stake in Nabors Industries by 5.3% in the third quarter. Legal & General Group Plc now owns 603,824 shares of the oil and gas company’s stock valued at $4,873,000 after buying an additional 30,269 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Nabors Industries by 52.4% in the third quarter. JPMorgan Chase & Co. now owns 3,619,076 shares of the oil and gas company’s stock valued at $29,423,000 after buying an additional 1,245,100 shares in the last quarter. Wells Fargo & Company MN raised its stake in Nabors Industries by 22.7% in the third quarter. Wells Fargo & Company MN now owns 866,154 shares of the oil and gas company’s stock valued at $6,990,000 after buying an additional 160,248 shares in the last quarter. Stifel Financial Corp acquired a new stake in Nabors Industries in the third quarter valued at $1,837,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in Nabors Industries in the third quarter valued at $353,000. Institutional investors own 87.24% of the company’s stock.

Shares of NBR traded down $0.09 during midday trading on Friday, hitting $7.73. 6,135,238 shares of the stock were exchanged, compared to its average volume of 9,039,962. Nabors Industries has a 52-week low of $5.32 and a 52-week high of $12.04. The firm has a market cap of $2,467.51, a P/E ratio of -4.74 and a beta of 1.60. The company has a quick ratio of 1.39, a current ratio of 1.57 and a debt-to-equity ratio of 1.37.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Tuesday, March 13th were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, March 12th. Nabors Industries’s dividend payout ratio is presently -14.72%.

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Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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

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