Nabors Industries Ltd. (NBR) Trading Up 0.7%
Nabors Industries Ltd. (NYSE:NBR)’s share price was up 0.7% during mid-day trading on Wednesday . The stock traded as high as $10.20 and last traded at $10.05, with a volume of 3,765,091 shares changing hands. The stock had previously closed at $9.98.
Several equities research analysts have weighed in on NBR shares. Zacks Investment Research raised Nabors Industries from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Monday, August 8th. Seaport Global Securities raised Nabors Industries from a “neutral” rating to a “buy” rating in a research report on Friday, July 8th. Jefferies Group reaffirmed a “hold” rating and set a $10.00 price target (up from $9.00) on shares of Nabors Industries in a research report on Monday, August 8th. Nomura reaffirmed a “hold” rating and set a $8.00 price target on shares of Nabors Industries in a research report on Sunday, May 15th. Finally, Simmons reaffirmed a “neutral” rating and set a $12.50 price target (up from $12.25) on shares of Nabors Industries in a research report on Monday, August 8th. Seven research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.22.
The stock’s market cap is $2.82 billion. The company’s 50 day moving average is $9.61 and its 200-day moving average is $9.20.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.19. The firm had revenue of $571.60 million for the quarter, compared to analyst estimates of $497.83 million. The company’s revenue was down 40.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, equities research analysts forecast that Nabors Industries Ltd. will post ($1.19) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.24 annualized dividend and a yield of 2.41%.
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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