Wall Street brokerages expect that Nabors Industries Ltd. (NYSE:NBR) will report $800.65 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Nabors Industries’ earnings. The highest sales estimate is $821.55 million and the lowest is $777.00 million. Nabors Industries posted sales of $758.76 million during the same quarter last year, which suggests a positive year over year growth rate of 5.5%. The company is expected to report its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Nabors Industries will report full-year sales of $3.30 billion for the current fiscal year, with estimates ranging from $3.15 billion to $3.39 billion. For the next year, analysts anticipate that the company will report sales of $3.61 billion, with estimates ranging from $3.22 billion to $4.03 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Nabors Industries.
Nabors Industries (NYSE:NBR) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.11). The business had revenue of $809.31 million during the quarter, compared to the consensus estimate of $774.35 million. Nabors Industries had a negative return on equity of 14.79% and a negative net margin of 19.68%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.46) EPS.
In other news, CFO William J. Restrepo purchased 177,100 shares of the company’s stock in a transaction on Friday, June 14th. The shares were purchased at an average cost of $2.03 per share, with a total value of $359,513.00. Following the completion of the transaction, the chief financial officer now owns 2,136,255 shares of the company’s stock, valued at approximately $4,336,597.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.02% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Nabors Industries in the fourth quarter valued at $25,000. Versant Capital Management Inc increased its holdings in shares of Nabors Industries by 921.4% in the first quarter. Versant Capital Management Inc now owns 7,579 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 6,837 shares during the last quarter. WINTON GROUP Ltd acquired a new position in shares of Nabors Industries in the second quarter valued at $36,000. Traynor Capital Management Inc. acquired a new position in shares of Nabors Industries in the first quarter valued at $39,000. Finally, Fiera Capital Corp acquired a new position in shares of Nabors Industries in the first quarter valued at $39,000. Hedge funds and other institutional investors own 80.91% of the company’s stock.
Shares of NBR stock traded up $0.22 during trading on Wednesday, reaching $2.69. The company’s stock had a trading volume of 479,584 shares, compared to its average volume of 12,962,719. The firm’s fifty day moving average is $2.52. The company has a current ratio of 2.11, a quick ratio of 1.89 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $942.75 million, a P/E ratio of -2.14 and a beta of 2.50. Nabors Industries has a one year low of $1.81 and a one year high of $6.85.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 1.49%. The ex-dividend date was Monday, June 10th. Nabors Industries’s dividend payout ratio (DPR) is currently -3.17%.
Nabors Industries Company Profile
Nabors Industries Ltd. provides drilling and drilling-related services and technologies for land-based and offshore oil and natural gas wells. It operates through five segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. The company offers equipment manufacturing, rig instrumentation, optimization software, and directional drilling services.
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