Zacks Research Equities Analysts Decrease Earnings Estimates for Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBR) – Research analysts at Zacks Research decreased their Q3 2024 earnings per share estimates for Nabors Industries in a research report issued on Monday, October 7th. Zacks Research analyst R. Department now anticipates that the oil and gas company will earn ($1.75) per share for the quarter, down from their prior estimate of ($1.72). The consensus estimate for Nabors Industries’ current full-year earnings is ($12.47) per share. Zacks Research also issued estimates for Nabors Industries’ Q4 2024 earnings at ($1.57) EPS, FY2024 earnings at ($12.77) EPS, Q1 2025 earnings at ($1.67) EPS, Q2 2025 earnings at ($0.66) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.32) EPS, FY2025 earnings at ($2.83) EPS, Q1 2026 earnings at $0.01 EPS, Q2 2026 earnings at $1.87 EPS, Q3 2026 earnings at $3.02 EPS and FY2026 earnings at $6.54 EPS.

Nabors Industries (NYSE:NBR) last issued its quarterly earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share for the quarter, missing the consensus estimate of ($1.77) by ($2.52). The company had revenue of $742.98 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned ($2.26) EPS.

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

Nabors Industries Stock Up 4.0 %

NBR stock opened at $77.10 on Thursday. The company’s 50 day moving average price is $74.16 and its 200 day moving average price is $76.09. The firm has a market capitalization of $825.12 million, a price-to-earnings ratio of -5.58 and a beta of 2.11. Nabors Industries has a fifty-two week low of $59.67 and a fifty-two week high of $127.56. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82.

Institutional Trading of Nabors Industries

Several institutional investors have recently modified their holdings of NBR. Inspire Investing LLC acquired a new stake in shares of Nabors Industries in the 3rd quarter valued at about $411,000. SG Americas Securities LLC boosted its holdings in shares of Nabors Industries by 79.6% in the third quarter. SG Americas Securities LLC now owns 4,017 shares of the oil and gas company’s stock valued at $259,000 after acquiring an additional 1,780 shares during the period. Creative Planning grew its position in shares of Nabors Industries by 62.3% during the second quarter. Creative Planning now owns 8,756 shares of the oil and gas company’s stock worth $623,000 after acquiring an additional 3,360 shares during the last quarter. Susquehanna Fundamental Investments LLC increased its holdings in shares of Nabors Industries by 92.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 10,540 shares of the oil and gas company’s stock valued at $750,000 after acquiring an additional 5,075 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Nabors Industries by 5.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,567 shares of the oil and gas company’s stock valued at $254,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 81.92% of the company’s stock.

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.