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

Nabors Industries (NYSE:NBR) issued its quarterly earnings results on Wednesday. The oil and gas company reported ($6.67) earnings per share 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

Nabors Industries stock traded down $1.90 during trading hours on Wednesday, reaching $53.55. 194,316 shares of the company were exchanged, compared to its average volume of 262,304. Nabors Industries has a 12 month low of $50.15 and a 12 month high of $105.96. The firm has a market cap of $573.52 million, a price-to-earnings ratio of -2.91 and a beta of 2.02. The company has a current ratio of 1.88, a quick ratio of 1.63 and a debt-to-equity ratio of 5.43. The stock has a 50-day moving average of $60.74 and a 200 day moving average of $70.39.

Wall Street Analysts Forecast Growth

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

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.