Nabors Industries (NBR) to Release Earnings on Tuesday

Nabors Industries (NYSE:NBR) will be announcing its earnings results after the market closes on Tuesday, October 22nd. Analysts expect the company to announce earnings of ($1.47) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Nabors Industries (NYSE:NBR) last issued its earnings results on Tuesday, July 23rd. The oil and gas company reported ($4.29) earnings per share (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 business had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. During the same quarter in the previous year, the company earned ($2.26) earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. On average, analysts expect Nabors Industries to post $-12 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Nabors Industries Price Performance

Shares of NBR opened at $73.09 on Friday. The stock has a market capitalization of $782.21 million, a PE ratio of -5.29 and a beta of 2.11. The company has a 50 day moving average price of $73.64 and a 200-day moving average price of $75.55. The company has a debt-to-equity ratio of 5.01, a quick ratio of 1.57 and a current ratio of 1.82. Nabors Industries has a fifty-two week low of $59.67 and a fifty-two week high of $125.86.

Wall Street Analysts Forecast Growth

NBR has been the subject of a number of analyst reports. Citigroup cut Nabors Industries from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $75.00 in a research note on Friday, September 13th. Barclays cut their price objective on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 target price on shares of Nabors Industries in a research report on Wednesday. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Nabors Industries has a consensus rating of “Hold” and an average target price of $98.80.

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.