Equities research analysts expect that Nabors Industries Ltd. (NYSE:NBR) will post $813.53 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Nabors Industries’ earnings. The lowest sales estimate is $779.36 million and the highest is $841.00 million. Nabors Industries reported sales of $709.26 million in the same quarter last year, which indicates a positive year over year growth rate of 14.7%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Nabors Industries will report full year sales of $3.09 billion for the current financial year, with estimates ranging from $3.05 billion to $3.14 billion. For the next fiscal year, analysts expect that the business will report sales of $3.53 billion, with estimates ranging from $3.41 billion to $3.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Nabors Industries.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings data on Tuesday, October 30th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.11). The company had revenue of $779.43 million during the quarter, compared to the consensus estimate of $800.78 million. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The company’s revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.42) earnings per share.

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Nabors Industries from $7.50 to $6.50 and set a “market perform” rating for the company in a report on Thursday, November 1st. Piper Jaffray Companies set a $9.00 target price on shares of Nabors Industries and gave the stock a “hold” rating in a report on Tuesday, August 7th. Seaport Global Securities restated a “buy” rating and set a $11.00 target price on shares of Nabors Industries in a report on Thursday, August 2nd. Jefferies Financial Group restated a “buy” rating and set a $8.00 target price on shares of Nabors Industries in a report on Tuesday, November 6th. Finally, Guggenheim restated a “buy” rating and set a $13.00 target price on shares of Nabors Industries in a report on Wednesday, August 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.96.

In other news, Director John Yearwood acquired 197,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The stock was purchased at an average price of $5.14 per share, with a total value of $1,012,580.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John P. Kotts acquired 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was purchased at an average cost of $5.61 per share, with a total value of $561,000.00. Following the purchase, the director now directly owns 301,949 shares in the company, valued at approximately $1,693,933.89. The disclosure for this purchase can be found here. Company insiders own 4.15% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc acquired a new position in Nabors Industries in the 2nd quarter worth approximately $106,000. Signition LP acquired a new position in Nabors Industries in the 2nd quarter worth approximately $133,000. FNY Investment Advisers LLC boosted its stake in Nabors Industries by 19,946.4% in the 3rd quarter. FNY Investment Advisers LLC now owns 22,051 shares of the oil and gas company’s stock worth $135,000 after purchasing an additional 21,941 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new position in Nabors Industries in the 2nd quarter worth approximately $139,000. Finally, Blair William & Co. IL purchased a new stake in Nabors Industries in the 3rd quarter worth approximately $175,000. 92.48% of the stock is owned by hedge funds and other institutional investors.

Shares of Nabors Industries stock traded up $0.05 on Friday, hitting $4.05. The company had a trading volume of 9,152,600 shares, compared to its average volume of 11,537,442. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.05 and a quick ratio of 1.82. The stock has a market capitalization of $1.58 billion, a PE ratio of -2.48 and a beta of 1.69. Nabors Industries has a 52 week low of $3.97 and a 52 week high of $8.86.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 3rd. Investors of record on Thursday, December 13th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date of this dividend is Wednesday, December 12th. Nabors Industries’s payout ratio is -14.72%.

About Nabors Industries

Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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