Zacks Research Equities Analysts Decrease Earnings Estimates for Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBRFree Report) – Equities research analysts at Zacks Research cut their FY2024 earnings per share estimates for shares of Nabors Industries in a research report issued to clients and investors on Thursday, March 21st. Zacks Research analyst R. Department now anticipates that the oil and gas company will post earnings of ($8.10) per share for the year, down from their previous forecast of ($8.09). The consensus estimate for Nabors Industries’ current full-year earnings is ($4.30) per share. Zacks Research also issued estimates for Nabors Industries’ Q2 2025 earnings at $0.73 EPS and FY2025 earnings at $3.42 EPS.

Several other equities analysts have also commented on the stock. Benchmark lowered shares of Nabors Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Morgan Stanley reduced their price target on shares of Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, February 12th. Atb Cap Markets downgraded shares of Nabors Industries from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 22nd. StockNews.com cut Nabors Industries from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Susquehanna reissued a “neutral” rating and issued a $88.00 target price on shares of Nabors Industries in a research report on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.60.

Read Our Latest Stock Analysis on NBR

Nabors Industries Price Performance

Nabors Industries stock opened at $88.06 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 4.63. The company has a fifty day simple moving average of $82.24 and a 200-day simple moving average of $93.76. The stock has a market cap of $833.93 million, a P/E ratio of -17.07 and a beta of 2.33. Nabors Industries has a 12-month low of $71.42 and a 12-month high of $141.47.

Nabors Industries (NYSE:NBRGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The oil and gas company reported ($3.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.54) by ($2.30). Nabors Industries had a negative net margin of 0.66% and a negative return on equity of 17.50%. The company had revenue of $737.84 million during the quarter, compared to analyst estimates of $749.52 million.

Hedge Funds Weigh In On Nabors Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pantechnicon Advisors LLP purchased a new stake in Nabors Industries during the third quarter worth $15,392,000. Panagora Asset Management Inc. acquired a new stake in shares of Nabors Industries in the third quarter valued at approximately $2,673,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Nabors Industries by 48.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,957 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 635 shares in the last quarter. American Century Companies Inc. raised its position in shares of Nabors Industries by 11.0% during the 3rd quarter. American Century Companies Inc. now owns 115,486 shares of the oil and gas company’s stock worth $14,221,000 after purchasing an additional 11,425 shares during the last quarter. Finally, Barclays PLC grew its holdings in Nabors Industries by 9.9% during the 3rd quarter. Barclays PLC now owns 5,626 shares of the oil and gas company’s stock valued at $692,000 after buying an additional 509 shares during the last quarter. 81.92% of the stock is owned by institutional investors and hedge funds.

About Nabors Industries

(Get Free Report)

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.

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Earnings History and Estimates for Nabors Industries (NYSE:NBR)

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