Atb Cap Markets Comments on Nabors Industries Ltd.’s FY2023 Earnings (NYSE:NBR)

Posted by Defense World Staff on Nov 5th, 2023

Nabors Industries Ltd. (NYSE:NBR – Free Report) – Stock analysts at Atb Cap Markets lowered their FY2023 earnings per share (EPS) estimates for Nabors Industries in a report issued on Tuesday, October 31st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will post earnings of ($10.83) per share for the year, down from their prior estimate of ($6.83). The consensus estimate for Nabors Industries’ current full-year earnings is ($8.03) per share. Atb Cap Markets also issued estimates for Nabors Industries’ Q4 2023 earnings at ($1.85) EPS, Q1 2024 earnings at ($1.30) EPS, Q2 2024 earnings at ($0.36) EPS, Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $1.34 EPS, FY2024 earnings at $0.69 EPS, Q1 2025 earnings at $1.84 EPS, Q2 2025 earnings at $2.56 EPS, Q3 2025 earnings at $3.09 EPS and FY2025 earnings at $10.89 EPS.

Nabors Industries (NYSE:NBR – Get Free Report) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported ($5.40) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($5.20). Nabors Industries had a negative return on equity of 18.63% and a negative net margin of 2.35%. The firm had revenue of $744.14 million for the quarter, compared to analysts’ expectations of $757.64 million.

A number of other equities research analysts have also recently issued reports on NBR. Susquehanna upped their price objective on shares of Nabors Industries from $112.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, October 4th. Royal Bank of Canada lowered their price target on shares of Nabors Industries from $140.00 to $130.00 and set a “sector perform” rating for the company in a report on Friday, October 27th. Benchmark raised shares of Nabors Industries from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. StockNews.com started coverage on shares of Nabors Industries in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Morgan Stanley decreased their price target on shares of Nabors Industries from $175.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, October 30th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $140.00.

View Our Latest Analysis on NBR

Nabors Industries Trading Up 1.9 %

Shares of NYSE:NBR opened at $100.83 on Friday. The stock has a market capitalization of $954.36 million, a PE ratio of -9.76 and a beta of 2.76. Nabors Industries has a 1 year low of $83.05 and a 1 year high of $190.90. The firm has a fifty day moving average price of $117.96 and a 200 day moving average price of $108.17. The company has a current ratio of 1.82, a quick ratio of 1.52 and a debt-to-equity ratio of 4.56.

Insider Transactions at Nabors Industries

In other Nabors Industries news, Director John P. Kotts sold 4,975 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $125.13, for a total value of $622,521.75. Following the completion of the sale, the director now directly owns 4,787 shares in the company, valued at $598,997.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 7.09% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NBR. Contrarius Investment Management Ltd raised its position in Nabors Industries by 392.7% in the second quarter. Contrarius Investment Management Ltd now owns 283,476 shares of the oil and gas company’s stock worth $26,372,000 after acquiring an additional 225,940 shares during the period. Valiant Capital Management L.P. purchased a new position in Nabors Industries during the first quarter valued at approximately $19,420,000. Webs Creek Capital Management LP purchased a new position in Nabors Industries during the second quarter valued at approximately $13,872,000. Charles Schwab Investment Management Inc. grew its stake in Nabors Industries by 158.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 234,826 shares of the oil and gas company’s stock valued at $35,863,000 after acquiring an additional 143,840 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Nabors Industries by 8.8% during the third quarter. BlackRock Inc. now owns 1,696,916 shares of the oil and gas company’s stock valued at $172,152,000 after acquiring an additional 136,874 shares in the last quarter. 80.39% of the stock is owned by institutional investors.

About Nabors Industries

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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.