Nabors Industries Ltd. (NYSE:NBR) Expected to Post Earnings of -$24.64 Per Share

Wall Street analysts expect Nabors Industries Ltd. (NYSE:NBR) to announce earnings per share (EPS) of ($24.64) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Nabors Industries’ earnings, with the lowest EPS estimate coming in at ($32.56) and the highest estimate coming in at ($12.72). Nabors Industries posted earnings of ($20.50) per share during the same quarter last year, which would suggest a negative year over year growth rate of 20.2%. The firm is expected to report its next earnings results on Monday, August 3rd.

According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($93.63) per share for the current fiscal year, with EPS estimates ranging from ($115.50) to ($67.60). For the next fiscal year, analysts expect that the business will report earnings of ($105.16) per share, with EPS estimates ranging from ($152.50) to ($61.74). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Nabors Industries.

Several research firms recently commented on NBR. Stephens cut their price target on Nabors Industries from $150.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Evercore ISI cut Nabors Industries to a “sell” rating in a report on Tuesday, March 17th. ValuEngine cut Nabors Industries from a “strong-buy” rating to a “buy” rating in a report on Monday, June 8th. Capital One Financial lowered Nabors Industries from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 17th. Finally, Royal Bank of Canada lowered their price objective on Nabors Industries from $37.50 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, May 7th. Eight investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Nabors Industries has a consensus rating of “Hold” and an average price target of $83.18.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NBR. Brave Asset Management Inc. boosted its position in shares of Nabors Industries by 104.1% during the first quarter. Brave Asset Management Inc. now owns 66,650 shares of the oil and gas company’s stock worth $26,000 after buying an additional 34,000 shares during the period. Alpine Global Management LLC purchased a new position in shares of Nabors Industries during the first quarter worth $28,000. Point72 Hong Kong Ltd purchased a new position in shares of Nabors Industries during the fourth quarter worth $29,000. PSI Advisors LLC purchased a new position in shares of Nabors Industries during the fourth quarter worth $39,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Nabors Industries by 132.3% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,748 shares of the oil and gas company’s stock worth $39,000 after buying an additional 7,829 shares during the period.

Shares of NYSE:NBR traded up $7.93 during midday trading on Monday, hitting $52.30. The company had a trading volume of 1,363,643 shares, compared to its average volume of 1,507,978. Nabors Industries has a twelve month low of $9.79 and a twelve month high of $167.50. The company has a debt-to-equity ratio of 2.06, a current ratio of 2.17 and a quick ratio of 1.88. The business’s 50-day simple moving average is $27.63 and its 200-day simple moving average is $8.29.

About Nabors Industries

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. Drilling, Canada Drilling, International Drilling, 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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