Analysts Expect Nabors Industries Ltd. (NBR) to Post -$0.20 EPS

Brokerages expect Nabors Industries Ltd. (NYSE:NBR) to announce ($0.20) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Nabors Industries’ earnings, with estimates ranging from ($0.28) to ($0.13). Nabors Industries posted earnings of ($0.39) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 48.7%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that Nabors Industries will report full-year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($1.09) to ($0.65). For the next year, analysts expect that the firm will post earnings of ($0.38) per share, with EPS estimates ranging from ($0.81) to $0.19. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Nabors Industries.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, April 30th. The oil and gas company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.11). The firm had revenue of $809.31 million for the quarter, compared to analyst estimates of $774.35 million. Nabors Industries had a negative return on equity of 14.79% and a negative net margin of 19.68%. Nabors Industries’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) earnings per share.

Several equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating in a research report on Thursday, March 14th. Argus cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Societe Generale set a $4.00 price objective on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, February 28th. Finally, ValuEngine raised shares of Nabors Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.13.

NBR traded up $0.07 during trading on Thursday, reaching $3.29. 6,967,081 shares of the stock were exchanged, compared to its average volume of 11,760,460. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -2.61 and a beta of 2.28. Nabors Industries has a twelve month low of $1.81 and a twelve month high of $8.42. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.39.

Several hedge funds have recently bought and sold shares of NBR. BlackRock Inc. increased its holdings in Nabors Industries by 43.5% in the 4th quarter. BlackRock Inc. now owns 42,020,803 shares of the oil and gas company’s stock worth $84,041,000 after acquiring an additional 12,741,524 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Nabors Industries during the 1st quarter worth $19,245,000. Norges Bank purchased a new position in Nabors Industries during the 4th quarter worth $7,534,000. Perella Weinberg Partners Capital Management LP increased its holdings in Nabors Industries by 5,083.2% during the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 2,558,594 shares of the oil and gas company’s stock worth $5,117,000 after purchasing an additional 2,509,231 shares during the period. Finally, Two Sigma Investments LP increased its holdings in Nabors Industries by 23,545.7% during the 4th quarter. Two Sigma Investments LP now owns 2,364,566 shares of the oil and gas company’s stock worth $4,729,000 after purchasing an additional 2,354,566 shares during the period. 86.05% of the stock is owned by hedge funds and other institutional investors.

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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