Zacks: Analysts Anticipate Nabors Industries Ltd. (NBR) to Post -$0.23 EPS

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Analysts predict that Nabors Industries Ltd. (NYSE:NBR) will post earnings of ($0.23) per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Nabors Industries’ earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.31). Nabors Industries posted earnings per share of ($0.29) during the same quarter last year, which would indicate a positive year over year growth rate of 20.7%. The company is expected to announce its next earnings results on Tuesday, May 7th.

On average, analysts expect that Nabors Industries will report full year earnings of ($0.74) per share for the current fiscal year, with EPS estimates ranging from ($1.12) to ($0.29). For the next financial year, analysts anticipate that the firm will post earnings of ($0.47) per share, with EPS estimates ranging from ($0.96) to ($0.13). Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Nabors Industries.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, February 26th. The oil and gas company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.38). The company had revenue of $782.08 million during the quarter, compared to the consensus estimate of $805.82 million. Nabors Industries had a negative net margin of 21.03% and a negative return on equity of 13.75%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.34) earnings per share.

NBR has been the subject of several recent analyst reports. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Friday, December 21st. Zacks Investment Research upgraded Nabors Industries from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. cut Nabors Industries from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 11th. Cowen cut Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price for the company. in a research note on Thursday, January 17th. Finally, Citigroup cut their target price on Nabors Industries from $8.00 to $6.70 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. Nabors Industries has an average rating of “Hold” and a consensus price target of $7.13.

Several institutional investors and hedge funds have recently made changes to their positions in NBR. Geode Capital Management LLC grew its holdings in Nabors Industries by 9.7% during the 4th quarter. Geode Capital Management LLC now owns 3,510,062 shares of the oil and gas company’s stock worth $7,019,000 after acquiring an additional 309,627 shares during the period. Norges Bank bought a new position in shares of Nabors Industries during the 4th quarter worth about $7,534,000. CWM Advisors LLC lifted its position in Nabors Industries by 78.1% in the 4th quarter. CWM Advisors LLC now owns 48,541 shares of the oil and gas company’s stock valued at $97,000 after acquiring an additional 21,291 shares in the last quarter. Penn Capital Management Co. Inc. lifted its position in Nabors Industries by 125.1% in the 4th quarter. Penn Capital Management Co. Inc. now owns 60,553 shares of the oil and gas company’s stock valued at $121,000 after acquiring an additional 33,650 shares in the last quarter. Finally, Advisory Services Network LLC lifted its position in Nabors Industries by 158.9% in the 4th quarter. Advisory Services Network LLC now owns 44,018 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 27,018 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Shares of NBR stock traded down $0.03 during trading on Friday, hitting $3.46. The company had a trading volume of 278,902 shares, compared to its average volume of 11,003,048. The company has a current ratio of 1.92, a quick ratio of 1.72 and a debt-to-equity ratio of 1.30. The stock has a market cap of $1.25 billion, a P/E ratio of -2.75 and a beta of 2.29. Nabors Industries has a one year low of $1.81 and a one year high of $8.86.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 2nd. Stockholders of record on Tuesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, March 11th. Nabors Industries’s payout ratio is -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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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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