Nabors Industries (NYSE:NBR) Releases Earnings Results, Misses Expectations By $2.52 EPS

Nabors Industries (NYSE:NBR) released its quarterly earnings data on Tuesday. The oil and gas company reported ($4.29) EPS for the quarter, missing the consensus estimate of ($1.77) by ($2.52), Briefing.com reports. Nabors Industries had a negative return on equity of 28.10% and a negative net margin of 4.73%. The firm had revenue of $742.98 million for the quarter, compared to analysts’ expectations of $737.91 million. During the same quarter in the previous year, the business earned ($2.26) earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year.

Nabors Industries Price Performance

Shares of NYSE NBR traded up $0.93 during trading hours on Friday, hitting $101.74. 365,960 shares of the stock were exchanged, compared to its average volume of 244,427. Nabors Industries has a 12 month low of $59.90 and a 12 month high of $141.47. The firm has a fifty day moving average price of $73.06 and a 200-day moving average price of $78.05. The company has a current ratio of 1.82, a quick ratio of 1.53 and a debt-to-equity ratio of 5.01.

Analysts Set New Price Targets

A number of analysts recently weighed in on NBR shares. Citigroup lowered their price objective on shares of Nabors Industries from $95.00 to $91.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Benchmark reiterated a “hold” rating on shares of Nabors Industries in a research note on Thursday, April 25th. Susquehanna cut their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $114.00 target price on shares of Nabors Industries in a report on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Nabors Industries presently has a consensus rating of “Hold” and an average price target of $108.50.

Nabors Industries Company Profile

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.