Nabors Industries (NYSE:NBR) Issues Earnings Results, Misses Estimates By $2.52 EPS

Nabors Industries (NYSE:NBR) released its earnings results on Tuesday. The oil and gas company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.77) by ($2.52), Briefing.com reports. The firm had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. Nabors Industries’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter last year, the company posted ($2.26) EPS.

Nabors Industries Stock Up 0.9 %

NYSE:NBR traded up $0.93 on Friday, hitting $101.74. The company had a trading volume of 365,960 shares, compared to its average volume of 244,427. The firm has a 50 day moving average of $73.06 and a two-hundred day moving average of $78.05. Nabors Industries has a 52 week low of $59.90 and a 52 week high of $141.47. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.53.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NBR. Benchmark reiterated a “hold” rating on shares of Nabors Industries in a report on Thursday, April 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $114.00 price objective on shares of Nabors Industries in a research report on Thursday. Susquehanna dropped their price target on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Finally, Citigroup reduced their price objective on shares of Nabors Industries from $95.00 to $91.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $108.50.

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.