Nabors Industries Ltd. (NBR) Releases Earnings Results, Misses Expectations By $-0.79 EPS

Nabors Industries Ltd. (NBR) reported quarterly earnings results on Monday, Apr-25-2016. The company reported $-1.12 earnings per share for the quarter, missing the analyst consensus estimate by $-0.79. Analysts had a consensus of $-0.33. The company posted revenue of $597.60 million in the period, compared to analysts expectations of $632.76 million. The company’s revenue was down -57.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Nabors Industries Ltd.. Nabors Industries Ltd. was Initiated by Nomura to “Neutral” on Apr 8, 2016. Nabors Industries Ltd. was Upgraded by Scotia Howard Weil to ” Sector Outperform” on Mar 28, 2016. Shares were Reiterated by Cowen on Feb 18, 2016 to “Outperform” and Lowered the Price Target to $ 8.75 from a previous price target of $13.50 .

Nabors Industries Ltd. opened for trading at $10.51 and hit $11.05 on the upside on Friday, eventually ending the session at $10.84, with a gain of 3.73% or 0.39 points. The heightened volatility saw the trading volume jump to 78,42,927 shares. Company has a market cap of $3,591 M.

In a different news, on Dec 11, 2015, James R Crane (director) purchased 149 shares at $15.56 per share price.

Nabors Industries Ltd. owns and operates a land-based drilling rig fleet in North America. The Company provides of offshore platform work over and drilling rigs. Its business is conducted through two business lines: Drilling & Rig Services and Completion & Production Services. It provides drilling technology and equipment and well-site services including engineering transportation and disposal construction maintenance well logging directional drilling rig instrumentation data collection and other support services. It manufactures and leases or sells top drives and other rig equipment. Its Drilling & Rig Services business line consists of four operating segments: U.S. Canada International and Rig Services. Its Completion & Production Services business line consists of its operations involved in the completion life-of-well maintenance and plugging and abandonment of a well and consists of two operating segments: Completion Services and Production Services.

Nabors Industries Ltd.

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