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

Nabors Industries (NYSE:NBR) released its quarterly earnings results on Tuesday. 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), Briefing.com reports. The business had revenue of $742.98 million for the quarter, compared to the consensus estimate of $737.91 million. Nabors Industries had a negative net margin of 4.73% and a negative return on equity of 28.10%. Nabors Industries’s revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business posted ($2.26) EPS.

Nabors Industries Stock Performance

NYSE:NBR traded up $0.93 during trading hours on Friday, reaching $101.74. The company had a trading volume of 365,960 shares, compared to its average volume of 244,427. The company has a current ratio of 1.82, a quick ratio of 1.53 and a debt-to-equity ratio of 5.01. The business’s 50-day simple moving average is $73.06 and its two-hundred day simple moving average is $78.05. Nabors Industries has a twelve month low of $59.90 and a twelve month high of $141.47.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NBR shares. Benchmark reaffirmed a “hold” rating on shares of Nabors Industries in a research note on Thursday, April 25th. Citigroup decreased 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 report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $114.00 price objective on shares of Nabors Industries in a research report on Thursday. Finally, Susquehanna decreased their price objective on shares of Nabors Industries from $88.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Nabors Industries currently has an average 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.