Nabors Industries (NYSE:NBR) Issues Earnings Results

Nabors Industries (NYSE:NBR) issued 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 Price Performance

Shares of NBR stock traded down $6.44 on Thursday, hitting $47.05. 88,506 shares of the company’s stock were exchanged, compared to its average volume of 254,376. The company has a debt-to-equity ratio of 5.43, a current ratio of 1.88 and a quick ratio of 1.63. Nabors Industries has a 12 month low of $46.09 and a 12 month high of $105.96. The stock has a market cap of $503.87 million, a P/E ratio of -2.60 and a beta of 2.02. The company has a 50 day moving average of $60.41 and a 200 day moving average of $70.27.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NBR. Evercore ISI decreased their price objective on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a report on Thursday, October 24th. Barclays cut their target price on Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research report on Wednesday, October 16th. Citigroup upped their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Susquehanna cut their target price on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research report on Thursday, October 24th. Six investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $86.40.

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.