Nabors Industries (NYSE:NBR) Announces Earnings Results, Misses Expectations By $4.86 EPS

Nabors Industries (NYSE:NBR - Get Free Report) announced its quarterly earnings data on Tuesday. The oil and gas company reported ($7.50) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.64) by ($4.86), Zacks reports. Nabors Industries had a negative net margin of 5.93% and a negative return on equity of 32.96%. The business had revenue of $742.78 million during the quarter, compared to analysts' expectations of $706.49 million. During the same period last year, the company posted ($4.54) EPS. Nabors Industries's revenue for the quarter was up .3% on a year-over-year basis.

Nabors Industries Trading Down 7.1 %

Shares of NBR stock traded down $2.06 on Wednesday, hitting $26.81. 130,273 shares of the stock traded hands, compared to its average volume of 341,511. The firm's 50-day moving average price is $36.51 and its two-hundred day moving average price is $55.39. The stock has a market capitalization of $257.44 million, a PE ratio of -1.20 and a beta of 1.49. The company has a debt-to-equity ratio of 5.95, a quick ratio of 1.52 and a current ratio of 1.75. Nabors Industries has a twelve month low of $25.11 and a twelve month high of $105.96.

Analyst Ratings Changes

NBR has been the topic of several recent analyst reports. Morgan Stanley cut their target price on shares of Nabors Industries from $115.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Barclays reduced their target price on Nabors Industries from $90.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 19th. Finally, Susquehanna cut their target price on shares of Nabors Industries from $45.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Nabors Industries currently has a consensus rating of "Hold" and a consensus target price of $71.17.

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.