Nabors Industries Ltd. (NYSE:NBR) Receives Consensus Rating of "Reduce" from Analysts

Nabors Industries Ltd. (NYSE:NBR - Get Free Report) has earned an average recommendation of "Reduce" from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $42.86.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective 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. Barclays reiterated an "underweight" rating and set a $28.00 price target (down from $53.00) on shares of Nabors Industries in a research note on Monday, May 19th. Morgan Stanley cut their price target on shares of Nabors Industries from $75.00 to $50.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Susquehanna cut their price target on shares of Nabors Industries from $32.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Citigroup cut their price target on shares of 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 Trading Up 9.5%

Shares of NYSE NBR traded up $2.57 during trading on Friday, hitting $29.75. 602,133 shares of the company were exchanged, compared to its average volume of 373,164. Nabors Industries has a 12-month low of $23.27 and a 12-month high of $105.96. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. The company has a fifty day moving average price of $29.63 and a 200-day moving average price of $47.03. The firm has a market capitalization of $467.08 million, a PE ratio of -1.33 and a beta of 1.96.

Nabors Industries (NYSE:NBR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.64) by ($4.86). The company had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The firm's quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm posted ($4.54) earnings per share. As a group, equities research analysts expect that Nabors Industries will post -6.22 EPS for the current year.

Hedge Funds Weigh In On Nabors Industries

A number of institutional investors and hedge funds have recently made changes to their positions in NBR. Barclays PLC boosted its holdings in Nabors Industries by 60.8% in the third quarter. Barclays PLC now owns 112,318 shares of the oil and gas company's stock valued at $7,241,000 after purchasing an additional 42,483 shares in the last quarter. R Squared Ltd acquired a new position in Nabors Industries in the fourth quarter valued at approximately $70,000. Entropy Technologies LP boosted its holdings in Nabors Industries by 65.5% in the fourth quarter. Entropy Technologies LP now owns 15,394 shares of the oil and gas company's stock valued at $880,000 after purchasing an additional 6,095 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Nabors Industries by 41.0% in the fourth quarter. Van ECK Associates Corp now owns 202,552 shares of the oil and gas company's stock valued at $11,580,000 after purchasing an additional 58,946 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Nabors Industries by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 43,602 shares of the oil and gas company's stock valued at $2,493,000 after purchasing an additional 1,184 shares in the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

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.