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

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.

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has received an average recommendation of "Reduce" from the eight brokerages that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $41.6250.

NBR has been the subject of a number of analyst reports. Piper Sandler initiated coverage on Nabors Industries in a research note on Monday, July 14th. They issued an "underweight" rating and a $30.00 price target for the company. Barclays reaffirmed an "underweight" rating and issued a $28.00 price target (down previously from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. JPMorgan Chase & Co. dropped their price target on Nabors Industries from $38.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, May 28th. Morgan Stanley dropped their price target on Nabors Industries from $75.00 to $50.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Citigroup dropped their price target 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 Stock Up 4.2%

NBR opened at $35.29 on Wednesday. Nabors Industries has a fifty-two week low of $23.27 and a fifty-two week high of $87.46. 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 company has a market capitalization of $555.45 million, a P/E ratio of -2.51 and a beta of 1.52. The stock has a fifty day moving average of $32.33 and a 200-day moving average of $35.79.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its stake in 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 acquiring an additional 533 shares in the last quarter. American Century Companies Inc. raised its stake in Nabors Industries by 7.6% during the second quarter. American Century Companies Inc. now owns 321,800 shares of the oil and gas company's stock worth $9,017,000 after acquiring an additional 22,594 shares in the last quarter. Rhumbline Advisers raised its stake in Nabors Industries by 37.0% during the second quarter. Rhumbline Advisers now owns 28,864 shares of the oil and gas company's stock worth $809,000 after acquiring an additional 7,799 shares in the last quarter. Entropy Technologies LP raised its stake in Nabors Industries by 186.0% during the second quarter. Entropy Technologies LP now owns 19,143 shares of the oil and gas company's stock worth $536,000 after acquiring an additional 12,450 shares in the last quarter. Finally, Intech Investment Management LLC raised its stake in Nabors Industries by 50.7% during the second quarter. Intech Investment Management LLC now owns 8,286 shares of the oil and gas company's stock worth $232,000 after acquiring an additional 2,786 shares in the last quarter. Institutional investors and hedge funds 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.

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