Nabors Industries Ltd. (NBR) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jun 1, 2016.
Many Wall Street Analysts have commented on Nabors Industries Ltd.. Company shares were Reiterated by Cowen on Apr 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 11 from a previous price target of $8.75 .Nabors Industries Ltd. was Upgraded by Raymond James to ” Strong Buy” on Apr 27, 2016. Nabors Industries Ltd. was Initiated by Nomura to “Neutral” on Apr 8, 2016.
On the company’s financial health, Nabors Industries Ltd. reported $-1.12 EPS for the quarter, missing the analyst consensus estimate by $ -0.79 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $-0.33. The company had revenue of $597.60 million for the quarter, 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.
Nabors Industries Ltd. opened for trading at $8.88 and hit $9.07 on the upside on Friday, eventually ending the session at $9.07, with a gain of 1.45% or 0.13 points. The heightened volatility saw the trading volume jump to 77,46,870 shares. Company has a market cap of $2,557 M.
In a different news, on May 2, 2016, Howard Wolf (director) purchased 15,000 shares at $9.78 per share price. According to the SEC, 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.