Nabors Industries Ltd. (NYSE:NBR) has been downgraded by Susquehanna on January 09 which now rates the stock as Neutral compared with Positive rating suggested in the past. Analysts at Raymond James, shed their positive views on December 13 by lowering it fromStrong Buy to Mkt Perform. The stock lost favor of JP Morgan analysts who expressed their lack of confidence in it using a downgrade from Neutral to Underweight on December 11. BofA/Merrill, released new analyst coverage on October 18, calling the stock is Buy.
Nabors Industries Ltd. (NBR) hit an intraday high Monday at $2.86. The shares finished at $2.77, after trading as low as $2.695 earlier in the session. It rose 0.36% in recent trade and currently has a stock-market value of $1.06B. Trading activity significantly weakened as the volume at ready counter decreased to 12,733,311 shares versus 13,413,220 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 15,789,989 shares. The stock is now 53.04% above against its bear-market low of $1.81 on December 26, 2018. It has retreated -219.86% since it’s 52-week high of $8.86 reached in May. Now the market price is down -59.08% on the year and up 38.5% YTD.
NBR’s 50 day simple moving average (SMA 50) price is $2.74 and its 200-day simple moving average (SMA 200) price is $5.43. The company’s stock currently has a total float of 324.53M shares. Its weekly volatility is hovering around 6.94% and felt 7.17% volatility in price over a month. On the upside, the share price will test short term resistance at around $2.86. On a downside, the stock is likely to find some support, which begins at $2.69. The failure to get near-term support could push it to $2.61.
Separately, it has been reported that multiple insider activity took place at Nabors Industries Ltd. (NBR). Director Kotts John P acquired 100,000 shares for $384,434 in transaction occurred on 2018/11/06. After making this transaction, the Director owns a direct stake of 561,000 shares, worth $1,064,882, as per the last closing price. On 2018/11/01 Yearwood John, Director at NBR, purchased 197,000 shares at an average price of $5.14 per share. The new stake is valued at $1,100,892.
CFO, Restrepo William J had invested in 22,000 shares for $961,694 through a trade on 2017/05/30. Following this activity, the insider holds 181,500 shares worth $2,663,892 as of recent close. Wall Street’s most bullish Nabors Industries Ltd. (NYSE:NBR) analysts are predicting the share price to blow past $12 per share during the next 12 months. The current median share price forecast by them is $5, suggesting that the stock could increase 80.51% in that time frame. The average price target of $5.92 calls for a nearly 113.72% increase in the stock price.
Also, it is trading at rather inexpensive levels at just over 0.33x price/book and 0.35x price/sales. Compared to others, Nabors Industries Ltd. is in a different league with regards to profitability, having net margins of -20.3%. To put some perspective around this, the industry’s average net margin is -52.29%. NBR’s ROE is -20.9%, which is also considerably better than the industry’s ROE of -29.03%. It’s also very liquid in the near term, with a current ratio of 2. The stock has a debt/capital of 1.28.
Shares of Nabors Industries Ltd. (NBR) have dropped -41.9% since the company’s last earnings report. Over the past 12 fiscal quarters, Nabors Industries Ltd. (NYSE:NBR) has topped consensus earnings estimates in 4 quarters (33%), missed earnings in 8 quarters (66%), whereas at 0 occasion EPS met analyst expectations. NBR last reported earnings on October 30, 2018 when it released Sep-18 results that receded expectations. The company raked in -$0.29 per share, -99.33% change on the same period last year. That was worse than consensus for -$0.2. Revenue for the recent quarter stood at $778.08 million, up 18% on last year and below the $797.49 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $734 million to $857.05 million, which should be compared with $936.33 million generated last year. EPS is seen in a range of -$2.60E-01 to -$0.06, against the -$0.07 reported a year ago.