Nabors Industries Ltd. (NYSE:NBR) Given Consensus Rating of "Reduce" by Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have received an average rating of "Reduce" from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $42.86.

Several equities research analysts have weighed in on NBR shares. Morgan Stanley dropped their price objective on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Royal Bank Of Canada dropped their price objective on Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating for the company in a report on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, May 28th. Susquehanna lowered their target price on Nabors Industries from $32.00 to $29.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Citigroup lowered their target price on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th.

Nabors Industries Trading Down 6.4%

NYSE NBR opened at $30.53 on Tuesday. Nabors Industries has a 1-year low of $23.27 and a 1-year high of $105.96. The company has a current ratio of 1.80, a quick ratio of 1.62 and a debt-to-equity ratio of 4.13. The stock has a 50-day moving average of $29.39 and a 200-day moving average of $42.92. The firm has a market cap of $479.38 million, a PE ratio of -1.95 and a beta of 1.52.

Nabors Industries (NYSE:NBR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share for the quarter, missing the consensus estimate of ($2.64) by ($4.86). Nabors Industries had a negative return on equity of 38.71% and a negative net margin of 3.66%. The business had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same quarter last year, the business posted ($4.54) EPS. The company's quarterly revenue was up .3% compared to the same quarter last year. As a group, sell-side analysts forecast that Nabors Industries will post -6.22 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NBR. Public Employees Retirement System of Ohio purchased a new position in Nabors Industries during the fourth quarter valued at $36,000. US Bancorp DE raised its stake in Nabors Industries by 234.9% during the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after buying an additional 505 shares during the last quarter. GAMMA Investing LLC raised its stake in Nabors Industries by 520.2% during the first quarter. GAMMA Investing LLC now owns 1,073 shares of the oil and gas company's stock valued at $45,000 after buying an additional 900 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Nabors Industries by 3,866.7% during the first quarter. Russell Investments Group Ltd. now owns 1,309 shares of the oil and gas company's stock valued at $55,000 after buying an additional 1,276 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in Nabors Industries during the fourth quarter valued at $97,000. Hedge funds and other institutional investors own 81.92% of the company's stock.

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.

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