Brokerages expect Nabors Industries Ltd. (NYSE:NBR) to report earnings per share (EPS) of ($0.24) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Nabors Industries’ earnings, with the lowest EPS estimate coming in at ($0.29) and the highest estimate coming in at ($0.17). Nabors Industries reported earnings of ($0.25) per share in the same quarter last year, which would indicate a positive year over year growth rate of 4%. The company is expected to issue its next quarterly earnings report on Tuesday, February 25th.
According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($1.55) per share for the current fiscal year, with EPS estimates ranging from ($1.62) to ($1.48). For the next year, analysts forecast that the business will report earnings of ($0.85) per share, with EPS estimates ranging from ($1.16) to ($0.56). Zacks’ EPS averages are an average based on a survey of sell-side analysts that follow Nabors Industries.
Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.09). The business had revenue of $758.08 million during the quarter, compared to analysts’ expectations of $777.69 million. Nabors Industries had a negative net margin of 20.02% and a negative return on equity of 16.80%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.29) EPS.
NBR traded down $0.04 during trading on Friday, hitting $2.47. 4,841,392 shares of the company’s stock were exchanged, compared to its average volume of 11,825,903. Nabors Industries has a 1 year low of $1.50 and a 1 year high of $4.08. The stock has a 50 day moving average price of $2.03 and a 200 day moving average price of $2.16. The firm has a market cap of $879.47 million, a P/E ratio of -1.96 and a beta of 2.79. The company has a current ratio of 2.02, a quick ratio of 1.75 and a debt-to-equity ratio of 1.50.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, December 12th. Nabors Industries’s payout ratio is currently -3.17%.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in Nabors Industries by 21.5% in the second quarter. BlackRock Inc. now owns 51,225,062 shares of the oil and gas company’s stock valued at $148,552,000 after buying an additional 9,051,668 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Nabors Industries by 3,556.2% in the 2nd quarter. AQR Capital Management LLC now owns 5,356,847 shares of the oil and gas company’s stock valued at $14,356,000 after acquiring an additional 5,210,331 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Nabors Industries by 16,795.8% during the 2nd quarter. Renaissance Technologies LLC now owns 4,798,418 shares of the oil and gas company’s stock valued at $13,915,000 after acquiring an additional 4,770,018 shares in the last quarter. Cooperman Leon G raised its position in shares of Nabors Industries by 36.5% during the 2nd quarter. Cooperman Leon G now owns 12,950,000 shares of the oil and gas company’s stock valued at $37,555,000 after acquiring an additional 3,465,702 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new position in Nabors Industries during the second quarter worth $7,393,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.
About Nabors Industries
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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