Nabors Industries Ltd. (NYSE:NBR)‘s stock had its “buy” rating reissued by Citigroup Inc. in a research note issued to investors on Monday. They currently have a $13.00 price target on the stock. Citigroup Inc.’s target price points to a potential upside of 26.83% from the stock’s current price.
NBR has been the subject of several other reports. Nomura set a $8.00 target price on Nabors Industries and gave the company a “hold” rating in a report on Tuesday, August 16th. Zacks Investment Research lowered Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Jefferies Group reaffirmed a “hold” rating and issued a $10.00 target price (up from $9.00) on shares of Nabors Industries in a report on Monday, August 8th. Simmons reaffirmed a “neutral” rating and issued a $12.50 target price (up from $12.25) on shares of Nabors Industries in a report on Monday, August 8th. Finally, Credit Suisse Group AG lowered Nabors Industries from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $9.00 in a report on Wednesday, June 1st. Seven analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $11.30.
Nabors Industries (NYSE:NBR) opened at 10.25 on Monday. The firm’s market capitalization is $2.90 billion. The firm has a 50-day moving average price of $9.62 and a 200 day moving average price of $9.30. Nabors Industries has a one year low of $4.93 and a one year high of $12.33.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/12/nabors-industries-nbr-buy-rating-reiterated-at-citigroup-inc.html
Nabors Industries (NYSE:NBR) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.19. The firm earned $571.60 million during the quarter, compared to analyst estimates of $497.83 million. Nabors Industries had a negative return on equity of 6.31% and a negative net margin of 39.78%. The company’s revenue for the quarter was down 40.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) EPS. Analysts anticipate that Nabors Industries will post ($1.22) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 13th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.34%. Nabors Industries’s payout ratio is -6.56%.
Several hedge funds and other institutional investors have recently made changes to their positions in NBR. UBS Group AG boosted its position in shares of Nabors Industries by 55.0% in the first quarter. UBS Group AG now owns 406,176 shares of the company’s stock worth $3,737,000 after buying an additional 144,150 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Nabors Industries during the first quarter worth about $195,000. JPMorgan Chase & Co. boosted its position in shares of Nabors Industries by 217.5% in the first quarter. JPMorgan Chase & Co. now owns 4,646,232 shares of the company’s stock worth $42,745,000 after buying an additional 3,182,840 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Nabors Industries by 8.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,899,264 shares of the company’s stock worth $91,073,000 after buying an additional 797,028 shares during the period. Finally, Hudson Bay Capital Management LP bought a new position in shares of Nabors Industries during the first quarter worth about $1,923,000. 93.07% of the stock is currently owned by hedge funds and other institutional investors.
Nabors Industries Company Profile
Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company is a provider of offshore platform work over and drilling rigs. It conducts its Drilling & Rig Services business through four segments: U.S. Drilling, Canada Drilling, International Drilling and Rig Services.
Receive News & Ratings for Nabors Industries Ltd. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Nabors Industries Ltd. and related companies with MarketBeat.com’s FREE daily email newsletter.