Zacks Research Analysts Decrease Earnings Estimates for Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of Nabors Industries in a research note issued on Thursday, March 21st. Zacks Research analyst R. Department now forecasts that the oil and gas company will earn ($8.10) per share for the year, down from their previous estimate of ($8.09). The consensus estimate for Nabors Industries’ current full-year earnings is ($4.30) per share. Zacks Research also issued estimates for Nabors Industries’ Q2 2025 earnings at $0.73 EPS and FY2025 earnings at $3.42 EPS.

A number of other equities research analysts have also recently issued reports on NBR. Atb Cap Markets cut shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. StockNews.com downgraded shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Benchmark cut shares of Nabors Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Morgan Stanley decreased their target price on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Finally, Susquehanna reiterated a “neutral” rating and issued a $88.00 price target on shares of Nabors Industries in a research note on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $129.60.

Nabors Industries Trading Down 3.8 %

Shares of Nabors Industries stock opened at $84.72 on Monday. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.36 and a quick ratio of 1.23. The business has a fifty day simple moving average of $82.45 and a two-hundred day simple moving average of $93.48. Nabors Industries has a 1 year low of $71.42 and a 1 year high of $141.47. The company has a market capitalization of $802.30 million, a price-to-earnings ratio of -16.42 and a beta of 2.33.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) EPS for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). The firm had revenue of $737.84 million during the quarter, compared to the consensus estimate of $749.52 million. Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%.

Hedge Funds Weigh In On Nabors Industries

A number of hedge funds have recently made changes to their positions in NBR. The Manufacturers Life Insurance Company boosted its stake in shares of Nabors Industries by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,758 shares of the oil and gas company’s stock worth $350,000 after buying an additional 95 shares during the last quarter. Eaton Vance Management increased its holdings in shares of Nabors Industries by 2.2% in the first quarter. Eaton Vance Management now owns 4,437 shares of the oil and gas company’s stock worth $677,000 after purchasing an additional 97 shares during the period. Point72 Middle East FZE increased its stake in Nabors Industries by 3.6% in the 2nd quarter. Point72 Middle East FZE now owns 3,341 shares of the oil and gas company’s stock worth $311,000 after acquiring an additional 115 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Nabors Industries by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 16,807 shares of the oil and gas company’s stock valued at $2,070,000 after purchasing an additional 148 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Nabors Industries by 2.3% during the second quarter. PNC Financial Services Group Inc. now owns 7,063 shares of the oil and gas company’s stock valued at $657,000 after purchasing an additional 157 shares during the last quarter. 81.92% of the stock is currently owned by institutional investors.

Nabors Industries Company Profile

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells in the United States and internationally. The company operates through four segments: U.S. Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running services, including casing and tubing running, and torque monitoring; managed pressure drilling services; and drilling-bit steering systems and rig instrumentation software.