Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Jefferies Financial Group lowered their Q2 2019 EPS estimates for Nabors Industries in a research report issued to clients and investors on Wednesday, May 1st, Zacks Investment Research reports. Jefferies Financial Group analyst B. Handler now forecasts that the oil and gas company will post earnings per share of ($0.28) for the quarter, down from their previous estimate of ($0.22). Jefferies Financial Group also issued estimates for Nabors Industries’ Q3 2019 earnings at ($0.24) EPS, Q4 2019 earnings at ($0.14) EPS and FY2019 earnings at ($1.00) EPS.
Several other equities research analysts have also recently commented on NBR. Zacks Investment Research raised Nabors Industries from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Citigroup cut Nabors Industries from a “buy” rating to a “neutral” rating in a report on Thursday, March 14th. Societe Generale set a $4.00 target price on Nabors Industries and gave the stock a “buy” rating in a report on Thursday, February 28th. Finally, Argus lowered shares of Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. Nabors Industries currently has a consensus rating of “Hold” and a consensus target price of $7.13.
Nabors Industries (NYSE:NBR) last announced its earnings results on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.25) by ($0.11). Nabors Industries had a negative return on equity of 14.79% and a negative net margin of 19.68%. The firm had revenue of $809.31 million for the quarter, compared to the consensus estimate of $774.35 million. During the same period in the previous year, the firm earned ($0.46) EPS. Nabors Industries’s revenue for the quarter was up 10.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlueMountain Capital Management LLC purchased a new position in Nabors Industries during the 1st quarter worth approximately $186,000. CWM Advisors LLC grew its position in Nabors Industries by 31.6% during the 1st quarter. CWM Advisors LLC now owns 63,863 shares of the oil and gas company’s stock worth $220,000 after purchasing an additional 15,322 shares in the last quarter. Encompass Capital Advisors LLC purchased a new position in Nabors Industries during the 1st quarter worth approximately $19,245,000. Ladenburg Thalmann Financial Services Inc. grew its position in Nabors Industries by 373.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,338 shares of the oil and gas company’s stock worth $103,000 after purchasing an additional 23,143 shares in the last quarter. Finally, M&T Bank Corp grew its position in Nabors Industries by 49.1% during the 1st quarter. M&T Bank Corp now owns 21,385 shares of the oil and gas company’s stock worth $74,000 after purchasing an additional 7,039 shares in the last quarter. Hedge funds and other institutional investors own 84.14% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.04 annualized dividend and a yield of 1.74%. Nabors Industries’s dividend payout ratio (DPR) is -3.17%.
About Nabors Industries
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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