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

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

NBR stock traded down $1.90 during mid-day trading on Wednesday, reaching $53.55. 194,316 shares of the stock traded hands, compared to its average volume of 262,304. The firm has a market capitalization of $573.52 million, a PE ratio of -2.91 and a beta of 2.02. The business has a 50-day moving average of $60.74 and a two-hundred day moving average of $70.39. Nabors Industries has a 52 week low of $50.15 and a 52 week high of $105.96. The company has a quick ratio of 1.63, a current ratio of 1.88 and a debt-to-equity ratio of 5.43.

Wall Street Analyst Weigh In

NBR has been the subject of a number of analyst reports. Susquehanna reduced their target price on shares of Nabors Industries from $79.00 to $77.00 and set a “neutral” rating for the company in a research note on Thursday, October 24th. Citigroup upped 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. 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 report on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price target on shares of Nabors Industries in a research report on Wednesday, October 16th. Finally, Barclays lowered their price objective on 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Nabors Industries has an average rating of “Hold” and a consensus 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.