Nabors Industries Ltd. (NBR) Stock Price Up 0.7%
Nabors Industries Ltd. (NYSE:NBR) rose 0.7% during 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 trading hands. The stock had previously closed at $9.98.
NBR has been the subject of several analyst reports. Zacks Investment Research raised Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Friday, August 19th. Nomura set a $8.00 target price on Nabors Industries and gave the company a “hold” rating in a report on Tuesday, August 16th. Stephens raised Nabors Industries from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 12th. Seaport Global Securities raised Nabors Industries from a “neutral” rating to a “buy” rating in a report on Friday, July 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $10.00 target price (up from $9.00) on shares of Nabors Industries in a report on Monday, August 8th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Nabors Industries presently has an average rating of “Buy” and an average price target of $11.22.
The company has a 50 day moving average price of $9.60 and a 200 day moving average price of $9.21. The stock’s market capitalization is $2.86 billion.
Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.19. The firm earned $571.60 million during the quarter, compared to the consensus estimate of $497.83 million. During the same quarter last year, the firm earned ($0.14) earnings per share. The business’s revenue for the quarter was down 40.1% on a year-over-year basis. Analysts expect that Nabors Industries Ltd. will post ($1.19) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Tuesday, September 13th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, September 9th. This represents a $0.24 annualized dividend and a yield of 2.42%.
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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