Atb Cap Markets Equities Analysts Decrease Earnings Estimates for Nabors Industries Ltd. (NYSE:NBR)

Nabors Industries Ltd. (NYSE:NBRFree Report) – Equities research analysts at Atb Cap Markets reduced their Q1 2024 earnings per share estimates for Nabors Industries in a report issued on Wednesday, February 7th. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn ($2.95) per share for the quarter, down from their prior estimate of ($1.28). Atb Cap Markets has a “Sector Perform” rating on the stock. The consensus estimate for Nabors Industries’ current full-year earnings is $1.93 per share. Atb Cap Markets also issued estimates for Nabors Industries’ Q2 2024 earnings at ($2.86) EPS, Q3 2024 earnings at ($2.68) EPS, Q4 2024 earnings at ($2.59) EPS, FY2024 earnings at ($11.07) EPS, Q1 2025 earnings at ($0.45) EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.28 EPS and FY2025 earnings at $2.53 EPS.

Other equities research analysts also recently issued research reports about the company. Benchmark downgraded Nabors Industries from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Morgan Stanley decreased their price objective on Nabors Industries from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com cut Nabors Industries from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Royal Bank of Canada cut their price objective on Nabors Industries from $140.00 to $130.00 and set a “sector perform” rating for the company in a research report on Friday, October 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $137.00.

Check Out Our Latest Analysis on NBR

Nabors Industries Trading Down 0.2 %

NYSE NBR opened at $79.01 on Monday. The stock has a 50-day simple moving average of $81.07 and a 200 day simple moving average of $100.38. The company has a market capitalization of $748.22 million, a PE ratio of -15.31 and a beta of 2.38. The company has a current ratio of 1.36, a quick ratio of 1.54 and a debt-to-equity ratio of 4.63. Nabors Industries has a 12 month low of $71.42 and a 12 month high of $178.34.

Hedge Funds Weigh In On Nabors Industries

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning increased its stake in Nabors Industries by 37.0% during the 2nd quarter. Creative Planning now owns 2,349 shares of the oil and gas company’s stock worth $219,000 after acquiring an additional 635 shares during the period. Virtu Financial LLC bought a new position in Nabors Industries during the 2nd quarter worth $437,000. Panagora Asset Management Inc. bought a new position in Nabors Industries during the 3rd quarter worth $2,673,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 acquiring an additional 635 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Nabors Industries by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,909 shares of the oil and gas company’s stock worth $7,620,000 after acquiring an additional 489 shares during the period. Institutional investors own 80.39% of the company’s stock.

Nabors Industries Company Profile

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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 U.S. 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.

See Also

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

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