Nabors Industries (NYSE:NBR) Issues Earnings Results

Nabors Industries (NYSE:NBR) announced its earnings results on Tuesday. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.77) by ($2.52), Briefing.com reports. The business had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned ($2.26) EPS.

Nabors Industries Trading Up 1.0 %

NYSE:NBR traded up $1.01 on Friday, reaching $101.82. The company’s stock had a trading volume of 317,701 shares, compared to its average volume of 244,090. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.53. Nabors Industries has a 12-month low of $59.90 and a 12-month high of $141.47. The stock has a 50 day moving average price of $73.06 and a 200 day moving average price of $78.05.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Benchmark restated a “hold” rating on shares of Nabors Industries in a research report on Thursday, April 25th. Susquehanna lowered their target price on Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $114.00 price target on shares of Nabors Industries in a report on Thursday. Finally, Citigroup lowered their price objective on Nabors Industries from $95.00 to $91.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Nabors Industries presently has an average rating of “Hold” and an average price target of $108.50.

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.