Nabors Industries Ltd. (NBR) Expected to Post Quarterly Sales of $709.75 Million
Equities analysts forecast that Nabors Industries Ltd. (NYSE:NBR) will announce sales of $709.75 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for Nabors Industries’ earnings. The highest sales estimate is $729.00 million and the lowest is $689.00 million. Nabors Industries reported sales of $539.21 million during the same quarter last year, which suggests a positive year over year growth rate of 31.6%. The company is expected to announce its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Nabors Industries will report full year sales of $709.75 million for the current fiscal year, with estimates ranging from $2.55 billion to $2.59 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.26 billion per share, with estimates ranging from $3.00 billion to $3.55 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Nabors Industries.
Several analysts have issued reports on the stock. Seaport Global Securities reaffirmed a “buy” rating and set a $13.00 price target on shares of Nabors Industries in a research report on Thursday, January 18th. JPMorgan Chase & Co. lowered shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Thursday, January 25th. ValuEngine lowered shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Cowen set a $9.00 price target on shares of Nabors Industries and gave the stock a “buy” rating in a research report on Thursday, January 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. Nabors Industries currently has an average rating of “Hold” and an average price target of $10.89.
Nabors Industries (NYSE:NBR) traded down $0.24 during midday trading on Tuesday, reaching $6.53. 16,250,119 shares of the company’s stock traded hands, compared to its average volume of 11,305,762. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.41 and a quick ratio of 1.27. Nabors Industries has a 1 year low of $5.32 and a 1 year high of $16.11. The company has a market capitalization of $2,030.00, a price-to-earnings ratio of -2.44 and a beta of 1.58.
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Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet. The Company is a provider of offshore platform drilling rigs in the United States and multiple international markets. The Company conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
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