Nabors Industries (NBR) Releases Earnings Results, Misses Estimates By $0.38 EPS

Nabors Industries (NYSE:NBR) issued its quarterly earnings results on Tuesday. The oil and gas company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.38), RTT News reports. Nabors Industries had a negative net margin of 19.25% and a negative return on equity of 14.21%. The business had revenue of $782.08 million for the quarter, compared to analyst estimates of $805.82 million. During the same period last year, the business posted ($0.34) earnings per share. Nabors Industries’s revenue for the quarter was up 10.4% on a year-over-year basis.

NBR stock traded down $0.04 during trading hours on Tuesday, hitting $3.07. 11,915,900 shares of the stock traded hands, compared to its average volume of 14,452,584. Nabors Industries has a one year low of $1.81 and a one year high of $8.86. The stock has a market capitalization of $1.11 billion, a P/E ratio of -1.88 and a beta of 2.43. The company has a quick ratio of 1.82, a current ratio of 2.05 and a debt-to-equity ratio of 1.26.

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Several research analysts recently weighed in on NBR shares. JPMorgan Chase & Co. cut Nabors Industries from a “neutral” rating to an “underweight” rating in a research note on Tuesday, December 11th. Cowen cut Nabors Industries from an “outperform” rating to a “market perform” rating and set a $2.75 target price for the company. in a research note on Thursday, January 17th. ValuEngine cut Nabors Industries from a “hold” rating to a “sell” rating in a research note on Friday, December 21st. Raymond James cut Nabors Industries from a “strong-buy” rating to a “market perform” rating and set a $2.75 target price for the company. in a research note on Thursday, December 13th. Finally, Susquehanna Bancshares cut Nabors Industries from a “positive” rating to a “neutral” rating in a research note on Wednesday, January 9th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.83.

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Nabors Industries Company Profile

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., Canada, International, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.

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