Nabors Industries Ltd. (NYSE:NBR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Nabors Industries Ltd. (NYSE:NBR) have earned a consensus rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $104.50.

Several equities analysts recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $114.00 price target on shares of Nabors Industries in a report on Thursday, July 25th. Citigroup cut shares of Nabors Industries from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $110.00 to $75.00 in a research report on Friday, September 13th.

Nabors Industries Trading Down 1.8 %

NBR opened at $67.32 on Friday. Nabors Industries has a 1-year low of $59.90 and a 1-year high of $129.85. The stock has a market capitalization of $720.46 million, a PE ratio of -4.87 and a beta of 2.12. The company has a current ratio of 1.82, a quick ratio of 1.57 and a debt-to-equity ratio of 5.01. The firm has a 50-day moving average price of $79.42 and a two-hundred day moving average price of $77.48.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). The company had revenue of $742.98 million during the quarter, compared to the consensus estimate of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the firm earned ($2.26) EPS. As a group, equities analysts anticipate that Nabors Industries will post -11.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in Nabors Industries by 5.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock worth $254,000 after acquiring an additional 181 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Nabors Industries by 29.1% in the 1st quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after purchasing an additional 332 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Nabors Industries by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,471 shares of the oil and gas company’s stock worth $558,000 after purchasing an additional 399 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Nabors Industries by 202.4% during the 4th quarter. Quadrant Capital Group LLC now owns 750 shares of the oil and gas company’s stock worth $61,000 after buying an additional 502 shares during the period. Finally, Swiss National Bank lifted its stake in Nabors Industries by 3.4% in the first quarter. Swiss National Bank now owns 18,500 shares of the oil and gas company’s stock valued at $1,593,000 after buying an additional 600 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.