Nabors Industries (NBR) PT Set at $9.00 by Cowen

Nabors Industries (NYSE:NBR) has been assigned a $9.00 target price by investment analysts at Cowen in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Cowen’s target price points to a potential upside of 9.89% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Stephens began coverage on Nabors Industries in a report on Tuesday. They issued an “equal weight” rating and a $8.00 price target on the stock. Bank of America lowered their price target on Nabors Industries from $8.50 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. SunTrust Banks reiterated a “buy” rating and set a $9.00 price objective (down from $20.00) on shares of Nabors Industries in a research report on Tuesday, October 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price objective (down from $14.00) on shares of Nabors Industries in a research report on Friday, October 6th. Finally, Zacks Investment Research upgraded Nabors Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Two research 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.75.

Shares of Nabors Industries (NYSE:NBR) opened at $8.19 on Thursday. Nabors Industries has a 1-year low of $5.32 and a 1-year high of $18.38. The firm has a market capitalization of $2,340.00, a PE ratio of -3.06 and a beta of 1.59. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35.

Nabors Industries (NYSE:NBR) last released its quarterly earnings results on Tuesday, October 24th. The oil and gas company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.09). Nabors Industries had a negative net margin of 31.99% and a negative return on equity of 14.74%. The business had revenue of $662.50 million during the quarter, compared to analysts’ expectations of $674.03 million. During the same period in the previous year, the business earned ($0.55) EPS. The business’s revenue was up 27.4% on a year-over-year basis. equities research analysts forecast that Nabors Industries will post -1.63 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Nabors Industries by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 22,714,902 shares of the oil and gas company’s stock worth $184,900,000 after acquiring an additional 149,637 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Nabors Industries by 11.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,376,769 shares of the oil and gas company’s stock worth $172,511,000 after acquiring an additional 2,243,068 shares during the last quarter. Van ECK Associates Corp grew its position in Nabors Industries by 1.7% during the 3rd quarter. Van ECK Associates Corp now owns 16,252,747 shares of the oil and gas company’s stock worth $131,160,000 after acquiring an additional 274,089 shares during the last quarter. State Street Corp grew its position in Nabors Industries by 3.0% during the 2nd quarter. State Street Corp now owns 8,519,273 shares of the oil and gas company’s stock worth $69,351,000 after acquiring an additional 248,054 shares during the last quarter. Finally, FMR LLC grew its position in Nabors Industries by 33.3% during the 2nd quarter. FMR LLC now owns 8,485,080 shares of the oil and gas company’s stock worth $69,068,000 after acquiring an additional 2,118,198 shares during the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The correct version of this article can be read at https://ledgergazette.com/2018/01/13/nabors-industries-nbr-pt-set-at-9-00-by-cowen.html.

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.

Analyst Recommendations for Nabors Industries (NYSE:NBR)

Receive News & Ratings for Nabors Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nabors Industries and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply