Nabors Industries (NBR) Set to Announce Earnings on Wednesday

Nabors Industries (NYSE:NBR) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of ($1.98) per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. The company had revenue of $737.84 million for the quarter, compared to the consensus estimate of $749.52 million. On average, analysts expect Nabors Industries to post $-6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Nabors Industries Stock Down 0.7 %

Shares of NYSE:NBR opened at $76.53 on Monday. The stock’s 50-day moving average price is $83.33 and its 200-day moving average price is $88.05. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47. The stock has a market capitalization of $724.74 million, a P/E ratio of -14.83 and a beta of 2.33. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of Nabors Industries during the 1st quarter worth approximately $25,000. US Bancorp DE grew its holdings in shares of Nabors Industries by 72.1% during the 2nd quarter. US Bancorp DE now owns 389 shares of the oil and gas company’s stock worth $36,000 after acquiring an additional 163 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Nabors Industries by 89.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 565 shares of the oil and gas company’s stock worth $57,000 after acquiring an additional 267 shares during the period. State of Wyoming grew its holdings in shares of Nabors Industries by 55.6% during the 4th quarter. State of Wyoming now owns 585 shares of the oil and gas company’s stock worth $91,000 after acquiring an additional 209 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of Nabors Industries by 43.1% during the 3rd quarter. Royal Bank of Canada now owns 793 shares of the oil and gas company’s stock worth $80,000 after acquiring an additional 239 shares during the period. Hedge funds and other institutional investors own 81.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Benchmark cut Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley cut their target price on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 12th. Finally, Susquehanna reissued a “neutral” rating and issued a $88.00 target price on shares of Nabors Industries in a research note on Monday, April 8th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $129.60.

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.