Nabors Industries (NYSE:NBR) Releases Quarterly Earnings Results, Misses Expectations By $4.81 EPS

Nabors Industries (NYSE:NBR) issued its earnings results on Wednesday. The oil and gas company reported ($6.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.86) by ($4.81), Zacks reports. Nabors Industries had a negative net margin of 4.69% and a negative return on equity of 25.68%.

Nabors Industries Stock Performance

NYSE NBR traded down $1.90 during trading hours on Wednesday, hitting $53.55. The company had a trading volume of 194,316 shares, compared to its average volume of 262,304. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43. The firm has a market cap of $573.52 million, a P/E ratio of -2.91 and a beta of 2.02. Nabors Industries has a fifty-two week low of $50.15 and a fifty-two week high of $105.96. The business has a fifty day simple moving average of $60.74 and a 200-day simple moving average of $70.39.

Analyst Upgrades and Downgrades

NBR has been the subject of several research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Evercore ISI lowered their price target on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating for the company in a report on Thursday, October 24th. Susquehanna reduced their price objective on Nabors Industries from $79.00 to $77.00 and set a “neutral” rating on the stock in a research note on Thursday, October 24th. Citigroup lifted their price objective on shares of Nabors Industries from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays dropped their target price on shares of Nabors Industries from $110.00 to $88.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 16th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $97.00.

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.