Nabors Industries (NYSE:NBR) Price Target Cut to $21.00 by Analysts at Susquehanna

Nabors Industries (NYSE:NBRGet Rating) had its target price cut by equities research analysts at Susquehanna from $170.00 to $21.00 in a research report issued on Wednesday, The Fly reports. Susquehanna’s target price would indicate a potential downside of 88.96% from the company’s previous close.

A number of other equities analysts also recently commented on NBR. Morgan Stanley raised their target price on shares of Nabors Industries from $100.00 to $150.00 and gave the company an “underweight” rating in a research note on Monday, April 11th. StockNews.com began coverage on shares of Nabors Industries in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Capital One Financial reaffirmed an “equal weight” rating on shares of Nabors Industries in a report on Thursday, March 17th. Citigroup lowered shares of Nabors Industries from a “buy” rating to a “neutral” rating and lowered their price target for the company from $175.00 to $115.00 in a report on Monday, March 14th. Finally, Barclays raised their price target on shares of Nabors Industries from $132.00 to $180.00 in a report on Monday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Nabors Industries has an average rating of “Hold” and an average target price of $113.20.

Shares of NBR opened at $190.14 on Wednesday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 1.58 and a current ratio of 1.84. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -2.39 and a beta of 2.83. The company’s 50 day simple moving average is $160.35 and its 200 day simple moving average is $129.08. Nabors Industries has a 1 year low of $65.58 and a 1 year high of $207.67.

Nabors Industries (NYSE:NBRGet Rating) last issued its earnings results on Wednesday, April 27th. The oil and gas company reported ($13.88) EPS for the quarter, missing analysts’ consensus estimates of ($8.95) by ($4.93). Nabors Industries had a negative net margin of 29.01% and a negative return on equity of 59.04%. The business had revenue of $568.70 million during the quarter, compared to analysts’ expectations of $561.32 million. Equities analysts expect that Nabors Industries will post -29.25 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in NBR. First Trust Advisors LP grew its holdings in Nabors Industries by 49.3% during the 1st quarter. First Trust Advisors LP now owns 1,569,190 shares of the oil and gas company’s stock worth $5,398,000 after acquiring an additional 518,376 shares in the last quarter. Morgan Stanley grew its holdings in Nabors Industries by 67.0% during the 2nd quarter. Morgan Stanley now owns 36,748 shares of the oil and gas company’s stock worth $4,198,000 after acquiring an additional 14,737 shares in the last quarter. Credit Suisse AG grew its holdings in Nabors Industries by 0.3% during the 3rd quarter. Credit Suisse AG now owns 39,163 shares of the oil and gas company’s stock worth $3,778,000 after acquiring an additional 135 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Nabors Industries during the 3rd quarter worth $270,000. Finally, GSA Capital Partners LLP acquired a new position in Nabors Industries during the 3rd quarter worth $798,000. 70.86% of the stock is owned by institutional investors.

About Nabors Industries (Get Rating)

Nabors Industries Ltd. provides drilling and drilling-related services for land-based and offshore oil and natural gas wells. The company operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. It provides tubular running, wellbore placement, directional drilling, measurement-while-drilling (MWD), equipment manufacturing, and rig instrumentation services; and logging-while-drilling systems and services, as well as drilling optimization software.

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