Equities research analysts expect that Nabors Industries Ltd. (NYSE:NBR) will post $709.75 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Nabors Industries’ earnings, with the lowest sales estimate coming in at $689.00 million and the highest estimate coming in at $729.00 million. Nabors Industries reported sales of $539.21 million in the same quarter last year, which indicates a positive year-over-year growth rate of 31.6%. The business is scheduled to announce its next earnings report on Wednesday, February 28th.
On average, analysts expect that Nabors Industries will report full-year sales of $709.75 million for the current financial year, with estimates ranging from $2.55 billion to $2.59 billion. For the next financial year, analysts anticipate that the company will post sales of $3.26 billion per share, with estimates ranging from $3.00 billion to $3.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Nabors Industries.
Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Seaport Global Securities restated a “buy” rating and issued a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. Cowen set a $9.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, January 11th. UBS Group reduced their price target on shares of Nabors Industries from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, Royal Bank of Canada set a $8.00 price target on shares of Nabors Industries and gave the company a “buy” rating in a research report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $10.89.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Nabors Industries by 15.3% during the 4th quarter. BlackRock Inc. now owns 27,830,232 shares of the oil and gas company’s stock worth $190,080,000 after purchasing an additional 3,700,602 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 149,637 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 purchasing an additional 2,243,068 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of 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 purchasing an additional 274,089 shares during the last quarter. Finally, State Street Corp increased its stake in shares of 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 purchasing an additional 248,054 shares during the last quarter. Institutional investors own 87.40% of the company’s stock.
Nabors Industries (NYSE:NBR) traded down $0.24 during mid-day trading on Tuesday, reaching $6.53. Nabors Industries has a one year low of $5.32 and a one year high of $16.11. The company has a market capitalization of $2,080.00, a price-to-earnings ratio of -2.44 and a beta of 1.58. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27.
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About Nabors Industries
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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