Brokerages Set Nabors Industries Ltd. (NYSE:NBR) Price Target at $41.63

Key Points

• Nabors Industries Ltd. has received a consensus rating of "Reduce" from eight brokerages, with three analysts recommending a sell, four a hold, and only one a buy.
• The company's most recent earnings report showed a loss of ($2.71) earnings per share, missing analysts' expectations and indicating a decrease in revenue compared to estimated figures.
• Nabors Industries has a significant debt-to-equity ratio of 4.17, which may raise concerns about its financial health and leverage in the market.

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been given a consensus recommendation of "Reduce" by the eight brokerages that are presently covering the company, MarketBeat.com reports. Three 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 price target among analysts that have issued ratings on the stock in the last year is $41.8750.

NBR has been the topic of several recent research reports. Morgan Stanley cut their target price on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. JPMorgan Chase & Co. cut their target price on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, May 28th. Susquehanna lifted their target price on Nabors Industries from $29.00 to $32.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays reissued an "underweight" rating and issued a $28.00 price objective (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Finally, Citigroup dropped their price objective on Nabors Industries from $50.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th.

Nabors Industries Price Performance

NBR stock traded down $1.00 during midday trading on Wednesday, reaching $32.57. 484,803 shares of the stock were exchanged, compared to its average volume of 556,055. The stock has a market capitalization of $512.55 million, a PE ratio of -2.32 and a beta of 1.52. Nabors Industries has a 52 week low of $23.27 and a 52 week high of $87.02. The company has a fifty day moving average price of $32.61 and a 200 day moving average price of $35.24. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.79 and a quick ratio of 1.63.

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

Institutional Trading of Nabors Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Nabors Industries by 520.2% in the 1st 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 in the last quarter. Dimensional Fund Advisors LP increased its position in Nabors Industries by 10.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 289,632 shares of the oil and gas company's stock valued at $16,556,000 after buying an additional 27,849 shares in the last quarter. Readystate Asset Management LP increased its holdings in Nabors Industries by 78.2% during the 1st quarter. Readystate Asset Management LP now owns 40,505 shares of the oil and gas company's stock worth $1,689,000 after purchasing an additional 17,780 shares in the last quarter. SG Americas Securities LLC increased its holdings in Nabors Industries by 178.7% during the 1st quarter. SG Americas Securities LLC now owns 6,666 shares of the oil and gas company's stock worth $278,000 after purchasing an additional 4,274 shares in the last quarter. Finally, Barings LLC bought a new stake in Nabors Industries during the 1st quarter worth approximately $8,864,000. 81.92% of the stock is owned by institutional investors.

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.