Zacks: Brokerages Anticipate Nabors Industries Ltd. (NYSE:NBR) Will Announce Earnings of -$0.21 Per Share

Wall Street brokerages expect Nabors Industries Ltd. (NYSE:NBR) to announce earnings per share (EPS) of ($0.21) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Nabors Industries’ earnings, with estimates ranging from ($0.28) to ($0.13). Nabors Industries reported earnings of ($0.39) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 46.2%. The business is expected to report its next earnings results on Tuesday, July 30th.

According to Zacks, analysts expect that Nabors Industries will report full year earnings of ($0.89) per share for the current fiscal year, with EPS estimates ranging from ($1.00) to ($0.65). For the next financial year, analysts forecast that the firm will post earnings of ($0.34) per share, with EPS estimates ranging from ($0.55) to $0.19. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Nabors Industries.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.11). Nabors Industries had a negative net margin of 19.68% and a negative return on equity of 14.79%. The business had revenue of $809.31 million for the quarter, compared to analysts’ expectations of $774.35 million. During the same quarter in the prior year, the firm posted ($0.46) EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year.

A number of brokerages have recently weighed in on NBR. ValuEngine downgraded Nabors Industries from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Goldman Sachs Group began coverage on Nabors Industries in a report on Sunday, March 10th. They set a “neutral” rating and a $4.00 price target on the stock. Societe Generale set a $4.00 price target on Nabors Industries and gave the company a “buy” rating in a report on Thursday, February 28th. Citigroup lowered their price target on Nabors Industries from $8.00 to $6.70 and set a “buy” rating on the stock in a report on Tuesday, March 12th. Finally, Argus cut Nabors Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company. Nabors Industries presently has an average rating of “Hold” and a consensus price target of $7.13.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlueMountain Capital Management LLC acquired a new stake in Nabors Industries during the first quarter valued at $186,000. CWM Advisors LLC lifted its position in shares of Nabors Industries by 31.6% in the first quarter. CWM Advisors LLC now owns 63,863 shares of the oil and gas company’s stock worth $220,000 after buying an additional 15,322 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Nabors Industries in the first quarter worth about $19,245,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Nabors Industries by 373.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 29,338 shares of the oil and gas company’s stock worth $103,000 after buying an additional 23,143 shares during the last quarter. Finally, M&T Bank Corp lifted its position in shares of Nabors Industries by 49.1% in the first quarter. M&T Bank Corp now owns 21,385 shares of the oil and gas company’s stock worth $74,000 after buying an additional 7,039 shares during the last quarter. 84.02% of the stock is owned by hedge funds and other institutional investors.

Shares of NBR stock remained flat at $$2.35 on Friday. The stock had a trading volume of 23,231,721 shares, compared to its average volume of 12,750,272. Nabors Industries has a twelve month low of $1.81 and a twelve month high of $7.67. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $853.43 million, a P/E ratio of -1.87 and a beta of 2.43.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.04 dividend on an annualized basis and a yield of 1.70%. Nabors Industries’s payout ratio 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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