Nabors Industries Ltd. (NYSE:NBR) Given Average Rating of "Reduce" by Brokerages

Key Points

• Nabors Industries Ltd. has received a consensus rating of "Reduce" from eight research firms, with three analysts issuing sell ratings and one giving a buy rating.
• The company's recent earnings report showed a loss of ($2.71) earnings per share, missing estimates, and revenue of $832.79 million, which was below consensus expectations.
• Shares of Nabors Industries have a 52-week range between $23.27 and $86.10, with the stock recently trading around $38.32.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has received a consensus rating of "Reduce" from the eight research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $43.00.

NBR has been the topic of a number of research analyst reports. Barclays reaffirmed an "underweight" rating and issued a $28.00 target price (down from $53.00) on shares of Nabors Industries in a report on Monday, May 19th. Susquehanna upped their target price on shares of Nabors Industries from $37.00 to $39.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their price target on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, May 28th. Citigroup lowered their price target on shares of Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Piper Sandler reissued an "underweight" rating and issued a $32.00 price target (up from $30.00) on shares of Nabors Industries in a report on Thursday, August 14th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Nabors Industries by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,233 shares of the oil and gas company's stock valued at $299,000 after acquiring an additional 228 shares during the period. Nebula Research & Development LLC raised its holdings in Nabors Industries by 2.5% in the 2nd quarter. Nebula Research & Development LLC now owns 17,697 shares of the oil and gas company's stock valued at $496,000 after acquiring an additional 428 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Nabors Industries by 5.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,780 shares of the oil and gas company's stock valued at $502,000 after acquiring an additional 459 shares during the period. State of Wyoming raised its holdings in Nabors Industries by 20.5% in the 1st quarter. State of Wyoming now owns 2,941 shares of the oil and gas company's stock valued at $123,000 after acquiring an additional 500 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Nabors Industries by 58.5% during the second quarter. Ameritas Investment Partners Inc. now owns 1,444 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 533 shares during the period. 81.92% of the stock is owned by institutional investors.

Nabors Industries Stock Up 1.4%

Shares of NBR stock opened at $38.32 on Friday. The company has a debt-to-equity ratio of 4.17, a quick ratio of 1.63 and a current ratio of 1.79. The firm's 50-day moving average is $33.68 and its 200-day moving average is $33.45. The stock has a market cap of $603.20 million, a price-to-earnings ratio of -2.73 and a beta of 1.60. Nabors Industries has a 52-week low of $23.27 and a 52-week high of $86.10.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its earnings results on Tuesday, July 29th. The oil and gas company reported ($2.71) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.05) by ($0.66). The firm had revenue of $832.79 million during the quarter, compared to the consensus estimate of $857.98 million. Nabors Industries had a negative net margin of 3.51% and a negative return on equity of 35.99%. The firm's revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($4.29) earnings per share. Sell-side analysts predict that Nabors Industries will post -6.22 EPS for the current year.

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.

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