Nabors Industries (NBR) Shares Down 7.4%
Nabors Industries Ltd. (NYSE:NBR) fell 7.4% during mid-day trading on Thursday . The stock traded as low as $6.76 and last traded at $6.77. 10,597,420 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 11,122,526 shares. The stock had previously closed at $7.31.
Several brokerages recently issued reports on NBR. Zacks Investment Research cut shares of Nabors Industries from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut shares of Nabors Industries from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Seaport Global Securities restated a “buy” rating and issued a $13.00 target price on shares of Nabors Industries in a report on Thursday, January 18th. JPMorgan Chase & Co. cut shares of Nabors Industries from an “overweight” rating to a “neutral” rating and set a $9.00 target price on the stock. in a report on Wednesday, January 17th. Finally, Cowen set a $9.00 target price on shares of Nabors Industries and gave the stock a “buy” rating in a report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. Nabors Industries currently has an average rating of “Hold” and a consensus price target of $10.89.
The stock has a market cap of $2,000.00, a P/E ratio of -2.44 and a beta of 1.58. The company has a quick ratio of 1.27, a current ratio of 1.41 and a debt-to-equity ratio of 1.35.
About Nabors Industries
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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