Nabors Industries (NYSE:NBR) Issues Quarterly Earnings Results

Key Points

• Nabors Industries reported quarterly EPS of $(2.04), missing the analyst consensus estimate of $(1.30) by $0.74.
• Shares fell 4.1% to $75.46 following the results, while the company reported a $1.12 billion market capitalization and a debt-to-equity ratio of 2.22.
• Analyst sentiment remains mixed but leans positive: Nabors has an average “Moderate Buy” rating and a consensus price target of $100.57, compared with its current share price.

Nabors Industries (NYSE:NBR - Get Free Report) issued its earnings results on Tuesday. The oil and gas company reported ($2.04) EPS for the quarter, missing analysts' consensus estimates of ($1.30) by ($0.74), Zacks reports. Nabors Industries had a negative return on equity of 8.66% and a net margin of 7.32%.

Nabors Industries Stock Down 4.1%

Shares of NYSE:NBR traded down $3.19 on Tuesday, reaching $75.46. The company had a trading volume of 342,835 shares, compared to its average volume of 343,134. Nabors Industries has a 52-week low of $30.90 and a 52-week high of $112.90. The firm's 50 day simple moving average is $89.66 and its 200-day simple moving average is $82.81. The firm has a market capitalization of $1.12 billion, a PE ratio of 5.91 and a beta of 0.96. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 2.22.

Institutional Investors Weigh In On Nabors Industries

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new position in Nabors Industries in the fourth quarter worth about $33,000. Aster Capital Management DIFC Ltd bought a new position in shares of Nabors Industries during the 4th quarter worth approximately $40,000. Public Employees Retirement System of Ohio lifted its position in Nabors Industries by 23.0% during the third quarter. Public Employees Retirement System of Ohio now owns 1,545 shares of the oil and gas company's stock valued at $63,000 after acquiring an additional 289 shares during the last quarter. State of Wyoming boosted its stake in Nabors Industries by 106.3% in the fourth quarter. State of Wyoming now owns 1,314 shares of the oil and gas company's stock valued at $71,000 after acquiring an additional 677 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Nabors Industries by 24.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,754 shares of the oil and gas company's stock valued at $95,000 after acquiring an additional 341 shares in the last quarter. 81.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NBR. Royal Bank Of Canada boosted their price target on Nabors Industries from $91.00 to $120.00 and gave the company a "sector perform" rating in a report on Thursday, April 30th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up from $80.00) on shares of Nabors Industries in a research report on Wednesday, April 15th. Zacks Research raised Nabors Industries from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Susquehanna decreased their price objective on Nabors Industries from $105.00 to $85.00 and set a "neutral" rating for the company in a report on Wednesday, July 8th. Finally, Weiss Ratings cut shares of Nabors Industries from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.57.

About Nabors Industries

Nabors Industries Ltd. is a global oil and gas drilling contractor that provides land and offshore drilling rigs, drilling equipment and related services to energy companies around the world. The company's operations span two core segments: drilling and evaluation, which includes land‐based and platform drilling rigs as well as wellbore survey services, and wellbore technologies, offering pressure control equipment, downhole tools and specialized maintenance services. Nabors' integrated model combines rig operations with engineered products and field support, positioning it as a full‐service provider in the upstream sector.

The company maintains a diverse, modern fleet of automated and conventional drilling rigs and has pioneered advanced drilling technologies, including automated drilling controls and managed pressure drilling systems.

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