NBR has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Nabors Industries from a hold rating to a buy rating and set a $12.00 target price for the company in a research report on Friday, August 19th. Nomura set a $8.00 target price on shares of Nabors Industries and gave the company a hold rating in a research report on Tuesday, August 16th. Stephens upgraded shares of Nabors Industries from an equal weight rating to an overweight rating in a research report on Tuesday, July 12th. Seaport Global Securities upgraded shares of Nabors Industries from a neutral rating to a buy rating in a research report on Friday, July 8th. Finally, Jefferies Group reiterated a hold rating and issued a $10.00 target price (up from $9.00) on shares of Nabors Industries in a research report on Monday, August 8th. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $11.54.
Shares of Nabors Industries (NYSE:NBR) opened at 12.93 on Wednesday. The company’s 50-day moving average is $10.59 and its 200-day moving average is $9.76. Nabors Industries has a one year low of $4.93 and a one year high of $13.11. The company’s market cap is $3.66 billion.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.19. The company earned $571.60 million during the quarter, compared to analysts’ expectations of $497.83 million. Nabors Industries had a negative net margin of 39.78% and a negative return on equity of 6.31%. The firm’s revenue for the quarter was down 40.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) earnings per share. On average, equities analysts predict that Nabors Industries will post ($1.21) EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 13th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, September 9th. This represents a $0.24 annualized dividend and a yield of 1.86%. Nabors Industries’s dividend payout ratio (DPR) is -6.56%.
A number of hedge funds have recently added to or reduced their stakes in NBR. Shoker Investment Counsel Inc. boosted its stake in Nabors Industries by 0.4% in the second quarter. Shoker Investment Counsel Inc. now owns 26,957 shares of the company’s stock worth $270,000 after buying an additional 119 shares during the last quarter. World Asset Management Inc boosted its stake in Nabors Industries by 3.3% in the second quarter. World Asset Management Inc now owns 19,609 shares of the company’s stock worth $197,000 after buying an additional 622 shares during the last quarter. State Treasurer State of Michigan boosted its stake in Nabors Industries by 0.7% in the second quarter. State Treasurer State of Michigan now owns 113,163 shares of the company’s stock worth $1,137,000 after buying an additional 800 shares during the last quarter. Commonwealth Equity Services Inc boosted its stake in Nabors Industries by 3.8% in the second quarter. Commonwealth Equity Services Inc now owns 36,313 shares of the company’s stock worth $365,000 after buying an additional 1,341 shares during the last quarter. Finally, Oak Associates Ltd. OH boosted its stake in Nabors Industries by 0.8% in the first quarter. Oak Associates Ltd. OH now owns 217,410 shares of the company’s stock worth $2,000,000 after buying an additional 1,800 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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