Nabors Industries (NYSE:NBR) Releases Earnings Results, Misses Expectations By $4.81 EPS

Nabors Industries (NYSE:NBR) announced its quarterly earnings data on Wednesday. The oil and gas company reported ($6.67) EPS for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81), Zacks reports. Nabors Industries had a negative net margin of 4.69% and a negative return on equity of 25.68%.

Nabors Industries Stock Down 3.4 %

NBR traded down $1.90 on Wednesday, reaching $53.55. 194,316 shares of the company traded hands, compared to its average volume of 262,304. The company has a market cap of $573.52 million, a price-to-earnings ratio of -2.91 and a beta of 2.02. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. The stock’s 50 day moving average price is $60.74 and its 200-day moving average price is $70.39. Nabors Industries has a 52-week low of $50.15 and a 52-week high of $105.96.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NBR. Evercore ISI reduced their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Susquehanna reduced their price objective on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Barclays dropped their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 16th. Citigroup upped their price target on shares of Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a research report on Wednesday, October 16th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Nabors Industries presently has a consensus rating of “Hold” and an average target price of $97.00.

About Nabors Industries

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.