Atb Cap Markets Weighs in on Nabors Industries Ltd.’s Q3 2024 Earnings (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) – Analysts at Atb Cap Markets reduced their Q3 2024 earnings per share estimates for Nabors Industries in a report released on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of ($3.64) per share for the quarter, down from their prior estimate of ($3.46). The consensus estimate for Nabors Industries’ current full-year earnings is ($12.47) per share. Atb Cap Markets also issued estimates for Nabors Industries’ Q4 2024 earnings at ($2.89) EPS, Q1 2025 earnings at ($2.47) EPS, Q2 2025 earnings at ($1.46) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at $0.02 EPS, FY2025 earnings at ($4.51) EPS, Q1 2026 earnings at ($0.23) EPS, Q2 2026 earnings at $0.31 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $2.03 EPS.

A number of other brokerages also recently issued reports on NBR. Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and reduced their price target for the company from $110.00 to $75.00 in a research report on Friday, September 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $114.00 target price on shares of Nabors Industries in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Nabors Industries presently has an average rating of “Hold” and an average target price of $104.50.

Nabors Industries Price Performance

Shares of NBR stock opened at $81.30 on Friday. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.57. The company has a market capitalization of $870.07 million, a PE ratio of -5.89 and a beta of 2.11. The firm’s 50-day moving average is $75.80 and its two-hundred day moving average is $76.40. Nabors Industries has a 12 month low of $59.67 and a 12 month high of $127.56.

Nabors Industries (NYSE:NBR) last posted its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter in the prior year, the firm earned ($2.26) EPS. The firm’s revenue was down 4.6% on a year-over-year basis.

Institutional Trading of Nabors Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Nabors Industries by 5.1% during the first quarter. Vanguard Group Inc. now owns 819,113 shares of the oil and gas company’s stock worth $70,550,000 after buying an additional 40,078 shares during the period. Gendell Jeffrey L boosted its holdings in Nabors Industries by 10.1% during the 1st quarter. Gendell Jeffrey L now owns 436,442 shares of the oil and gas company’s stock valued at $37,591,000 after acquiring an additional 40,141 shares during the period. Goldman Sachs Group Inc. grew its position in Nabors Industries by 111.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,102 shares of the oil and gas company’s stock valued at $32,415,000 after acquiring an additional 209,450 shares in the last quarter. Apollo Management Holdings L.P. increased its stake in Nabors Industries by 64.6% during the first quarter. Apollo Management Holdings L.P. now owns 335,091 shares of the oil and gas company’s stock worth $28,861,000 after purchasing an additional 131,490 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nabors Industries by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 289,967 shares of the oil and gas company’s stock worth $20,634,000 after purchasing an additional 16,890 shares in the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.