Equities Analysts Set Expectations for Nabors Industries Ltd.’s Q3 2016 Earnings (NBR)
Nabors Industries Ltd. (NYSE:NBR) – Capital One Financial Corp. boosted their Q3 2016 EPS estimates for shares of Nabors Industries in a research report issued to clients and investors on Monday. Capital One Financial Corp. analyst L. Lemoine now anticipates that the firm will post earnings per share of ($0.38) for the quarter, up from their previous estimate of ($0.40). Capital One Financial Corp. currently has a “Overweight” rating and a $13.00 target price on the stock. Capital One Financial Corp. also issued estimates for Nabors Industries’ Q4 2016 earnings at ($0.38) EPS, Q1 2017 earnings at ($0.29) EPS, Q2 2017 earnings at ($0.26) EPS, Q3 2017 earnings at ($0.19) EPS, Q4 2017 earnings at ($0.16) EPS, FY2017 earnings at ($0.90) EPS and FY2018 earnings at ($0.07) EPS.
Several other analysts also recently issued reports on the company. Zacks Investment Research raised Nabors Industries from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Friday, August 19th. Nomura set a $8.00 price objective on Nabors Industries and gave the company a “hold” rating in a report on Tuesday, August 16th. Stephens upgraded Nabors Industries from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 12th. Seaport Global Securities upgraded Nabors Industries from a “neutral” rating to a “buy” rating in a report on Friday, July 8th. Finally, Jefferies Group restated a “hold” rating and issued a $10.00 price objective (up previously from $9.00) on shares of Nabors Industries in a report on Monday, August 8th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $11.42.
Nabors Industries (NYSE:NBR) opened at 10.04 on Wednesday. The firm’s market cap is $2.85 billion. Nabors Industries has a 12-month low of $4.93 and a 12-month high of $12.33. The firm has a 50-day moving average price of $9.88 and a 200 day moving average price of $9.49.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.19. The firm earned $571.60 million during the quarter, compared to analysts’ expectations of $497.83 million. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The company’s revenue for the quarter was down 40.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) EPS.
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 paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.39%. Nabors Industries’s payout ratio is presently -6.56%.
Several hedge funds have recently bought and sold shares of NBR. UBS Group AG boosted its stake in Nabors Industries by 55.0% in the first quarter. UBS Group AG now owns 406,176 shares of the company’s stock worth $3,737,000 after buying an additional 144,150 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Nabors Industries during the first quarter worth $195,000. JPMorgan Chase & Co. boosted its stake in Nabors Industries by 217.5% in the first quarter. JPMorgan Chase & Co. now owns 4,646,232 shares of the company’s stock worth $42,745,000 after buying an additional 3,182,840 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Nabors Industries by 8.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,899,264 shares of the company’s stock worth $91,073,000 after buying an additional 797,028 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in Nabors Industries during the first quarter worth $1,923,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
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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