Analysts Anticipate Nabors Industries Ltd. (NYSE:NBR) to Post -$0.21 EPS
Wall Street brokerages predict that Nabors Industries Ltd. (NYSE:NBR) will report ($0.21) earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Nabors Industries’ earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.30). Nabors Industries posted earnings per share of ($0.31) in the same quarter last year, which suggests a positive year over year growth rate of 32.3%. The firm is scheduled to report its next earnings results on Tuesday, October 29th.
On average, analysts expect that Nabors Industries will report full year earnings of ($1.12) per share for the current fiscal year, with EPS estimates ranging from ($1.31) to ($0.90). For the next year, analysts anticipate that the firm will post earnings of ($0.57) per share, with EPS estimates ranging from ($1.06) to ($0.15). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Monday, July 29th. The oil and gas company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.40). Nabors Industries had a negative net margin of 19.75% and a negative return on equity of 16.01%. The business had revenue of $771.40 million during the quarter, compared to analysts’ expectations of $801.17 million. During the same period in the previous year, the company posted ($0.42) earnings per share. Nabors Industries’s revenue for the quarter was up 1.2% compared to the same quarter last year.
In related news, CFO William J. Restrepo purchased 177,100 shares of Nabors Industries stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $2.03 per share, for a total transaction of $359,513.00. Following the transaction, the chief financial officer now directly owns 2,136,255 shares in the company, valued at $4,336,597.65. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Tanya S. Beder purchased 50,000 shares of Nabors Industries stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $2.31 per share, with a total value of $115,500.00. Following the transaction, the director now owns 219,409 shares in the company, valued at $506,834.79. The disclosure for this purchase can be found here. 4.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC raised its position in shares of Nabors Industries by 527.8% during the 2nd quarter. Cresset Asset Management LLC now owns 11,521 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 9,686 shares during the last quarter. Magnetar Financial LLC raised its position in shares of Nabors Industries by 220.9% during the 2nd quarter. Magnetar Financial LLC now owns 154,716 shares of the oil and gas company’s stock worth $449,000 after purchasing an additional 106,506 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Nabors Industries during the 2nd quarter worth about $196,000. Nuveen Asset Management LLC acquired a new position in shares of Nabors Industries during the 2nd quarter worth about $7,393,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Nabors Industries by 26.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 309,696 shares of the oil and gas company’s stock worth $898,000 after purchasing an additional 65,483 shares during the last quarter. Hedge funds and other institutional investors own 79.61% of the company’s stock.
Shares of Nabors Industries stock traded down $0.21 during trading hours on Friday, reaching $2.21. The stock had a trading volume of 10,306,227 shares, compared to its average volume of 12,878,866. The stock’s 50 day moving average is $2.09 and its 200 day moving average is $2.86. The firm has a market capitalization of $872.30 million, a PE ratio of -1.75 and a beta of 2.65. Nabors Industries has a twelve month low of $1.60 and a twelve month high of $6.65. The company has a current ratio of 1.90, a quick ratio of 1.67 and a debt-to-equity ratio of 1.45.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Wednesday, September 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $0.04 annualized dividend and a dividend yield of 1.81%. Nabors Industries’s dividend payout ratio (DPR) is presently -3.17%.
Nabors Industries Company Profile
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. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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