Revenue Update on Nabors Industries Ltd.(NYSE:NBR)

Nabors Industries Ltd.(NYSE:NBR) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $538.948M. Analysts estimated a revenue of $543.720M. The revenues were -0.88% below the estimates. Earnings per share were $-0.3. The reported EPS was above estimates by 11.76%. Analysts had estimated an EPS of $-0.34.

In a different note, SunTrust Robinson Humphrey said it Initiates Coverage On Nabors Industries Ltd., according to a research note issued on Jan 18, 2017. In the research note, the firm Announces the price-target to $20 per share. The shares have been rated ‘Buy’ by the firm.

Nabors Industries Ltd. (NBR) made into the market gainers list on Wednesdays trading session with the shares advancing 0.06% or 0.01 points. Due to strong positive momentum, the stock ended at $15.44, which is also near the day’s high of $15.56. The stock began the session at $15.23 and the volume stood at 60,26,609 shares. The 52-week high of the shares is $18.4 and the 52 week low is $6.22. The company has a current market capitalization of $4,376 M and it has 28,34,28,130 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 2, 2016, Howard Wolf (director) purchased 15,000 shares at $9.78 per share price.Also, 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.

Add Comment