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

Nabors Industries (NYSE:NBR) released its quarterly earnings data on Wednesday. The oil and gas company reported ($6.67) earnings per share for the quarter, missing the consensus estimate 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

Shares of NBR stock traded down $6.44 during trading on Thursday, reaching $47.05. 88,506 shares of the company’s stock were exchanged, compared to its average volume of 254,376. 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 stock has a market capitalization of $503.87 million, a PE ratio of -2.60 and a beta of 2.02. Nabors Industries has a twelve month low of $46.09 and a twelve month high of $105.96. The firm’s fifty day moving average price is $60.41 and its 200-day moving average price is $70.27.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NBR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective on shares of Nabors Industries in a report on Wednesday, October 16th. Evercore ISI cut their target price on Nabors Industries from $94.00 to $85.00 and set an “in-line” rating on the stock in a research note on Thursday, October 24th. Barclays cut 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. Citigroup boosted their target price on Nabors Industries from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Susquehanna dropped 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. Six equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $86.40.

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.