Atb Cap Markets Equities Analysts Lower Earnings Estimates for Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) – Stock analysts at Atb Cap Markets dropped their Q3 2024 earnings estimates for shares of Nabors Industries in a note issued to investors on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings per share of ($3.64) for the quarter, down from their previous forecast of ($3.46). The consensus estimate for Nabors Industries’ current full-year earnings is ($12.47) per share. Atb Cap Markets also issued estimates for Nabors Industries’ Q4 2024 earnings at ($2.89) EPS, Q1 2025 earnings at ($2.47) EPS, Q2 2025 earnings at ($1.46) EPS, Q3 2025 earnings at ($0.65) EPS, Q4 2025 earnings at $0.02 EPS, FY2025 earnings at ($4.51) EPS, Q1 2026 earnings at ($0.23) EPS, Q2 2026 earnings at $0.31 EPS, Q3 2026 earnings at $0.64 EPS and FY2026 earnings at $2.03 EPS.

Other equities research analysts have also issued reports about the stock. Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and cut their price target for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Royal Bank of Canada reissued a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Nabors Industries has a consensus rating of “Hold” and a consensus price target of $104.50.

Nabors Industries Price Performance

Shares of NYSE:NBR opened at $81.30 on Friday. The company’s fifty day moving average price is $76.21 and its 200 day moving average price is $76.45. Nabors Industries has a 12 month low of $59.67 and a 12 month high of $127.56. The company has a debt-to-equity ratio of 5.01, a current ratio of 1.82 and a quick ratio of 1.57. The firm has a market capitalization of $870.07 million, a P/E ratio of -5.89 and a beta of 2.11.

Nabors Industries (NYSE:NBR) last announced its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($1.77) by ($2.52). Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The company had revenue of $742.98 million for the quarter, compared to analyst estimates of $737.91 million. During the same quarter in the prior year, the business earned ($2.26) earnings per share. Nabors Industries’s revenue was down 4.6% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of Nabors Industries by 2,022.2% in the first quarter. Russell Investments Group Ltd. now owns 764 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 728 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Nabors Industries by 29.1% in the first quarter. GAMMA Investing LLC now owns 1,474 shares of the oil and gas company’s stock valued at $127,000 after acquiring an additional 332 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nabors Industries in the second quarter valued at about $159,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Nabors Industries by 5.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after acquiring an additional 181 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Nabors Industries by 14.5% in the second quarter. AQR Capital Management LLC now owns 4,753 shares of the oil and gas company’s stock valued at $338,000 after acquiring an additional 601 shares in the last quarter. 81.92% of the stock is owned by hedge funds and other institutional investors.

About Nabors Industries

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.