Nabors Industries Ltd. (NYSE:NBR) Receives $42.86 Consensus Target Price from Analysts

Shares of Nabors Industries Ltd. (NYSE:NBR - Get Free Report) have been assigned an average rating of "Reduce" from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.86.

A number of analysts recently weighed in on the stock. Citigroup lowered their target price 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. Royal Bank of Canada lowered their target price on shares of Nabors Industries from $47.00 to $45.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley lowered their target price 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. JPMorgan Chase & Co. lowered their target price on shares of Nabors Industries from $38.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday. Finally, Susquehanna lowered their target price 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.

Nabors Industries Stock Performance

Nabors Industries stock traded down $0.54 on Friday, reaching $25.87. 353,622 shares of the stock were exchanged, compared to its average volume of 370,084. The stock has a market cap of $406.16 million, a PE ratio of -1.16 and a beta of 1.96. The company has a current ratio of 1.75, a quick ratio of 1.52 and a debt-to-equity ratio of 5.95. Nabors Industries has a twelve month low of $23.27 and a twelve month high of $105.96. The firm has a fifty day moving average price of $30.24 and a two-hundred day moving average price of $47.85.

Nabors Industries (NYSE:NBR - Get Free Report) last posted 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). Nabors Industries had a negative return on equity of 32.96% and a negative net margin of 5.93%. The company had revenue of $742.78 million for the quarter, compared to the consensus estimate of $706.49 million. During the same quarter in the previous year, the firm posted ($4.54) EPS. The business's revenue for the quarter was up .3% compared to the same quarter last year. Sell-side analysts anticipate that Nabors Industries will post -6.22 EPS for the current year.

Institutional Investors Weigh In On Nabors Industries

Several large investors have recently made changes to their positions in NBR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Nabors Industries by 4.6% in the fourth 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 purchasing an additional 228 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Nabors Industries by 5.5% in the fourth 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 purchasing an additional 459 shares in the last quarter. State of Wyoming grew its position in Nabors Industries by 20.5% in the first quarter. State of Wyoming now owns 2,941 shares of the oil and gas company's stock valued at $123,000 after purchasing an additional 500 shares in the last quarter. US Bancorp DE grew its position in Nabors Industries by 234.9% in the fourth quarter. US Bancorp DE now owns 720 shares of the oil and gas company's stock valued at $41,000 after purchasing an additional 505 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Nabors Industries by 11.5% in the first quarter. Dynamic Technology Lab Private Ltd now owns 5,540 shares of the oil and gas company's stock valued at $231,000 after purchasing an additional 570 shares in the last quarter. 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.