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A Pre-Earnings Analysis of Nabors Industries before Its 1Q17 Release

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Part 7
A Pre-Earnings Analysis of Nabors Industries before Its 1Q17 Release PART 7 OF 7

Wall Street’s Forecast for Nabors Industries before Its 1Q17 Earnings

Wall Street’s forecast for Nabors Industries

In this article, we’ll look at the recent Wall Street analysts’ forecasts for Nabors Industries (NBR) before it releases its 1Q17 earnings.

On April 19, 2017, ~79% of analysts tracking Nabors Industries rated it as a “buy” or some equivalent. Approximately 21% rated the company as a “hold,” and none of the sell-side analysts rated it as a “sell” or an equivalent. Nabors Industries comprises 2.5% of the iShares US Oil Equipment & Services ETF (IEZ).Wall Street’s Forecast for Nabors Industries before Its 1Q17 Earnings

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In comparison, 28% of the analysts tracking Helmerich & Payne (HP) rated it as a “buy” or some equivalent on April 19, 2017, while ~48% of the analysts tracking it rated it as a “hold.” The rest of the sell-side analysts rated HP as a “sell.”

The energy sector makes up 6.6% of SPX-INDEX. The SPX-INDEX increased 11% in the past one-year period versus a 15% rise in NBR’s stock price.

Analysts’ rating changes for NBR

From January 19–April 19, 2017, the percentage of analysts recommending a “buy” or some equivalent for NBR increased from 71% to 79%. The number of analysts’ “hold” recommendations decreased for NBR during this period. A year ago, ~61% of the sell-side analysts recommended a “buy” for NBR.

Analysts’ target prices for NBR and its peers

Wall Street analysts’ mean target price for NBR on April 19 was $19.10. NBR is currently trading at ~$12.00, implying an ~60% upside at its current median price. A month ago, analysts’ average target price for NBR was $19.30.

The mean target price, surveyed among the sell-side analysts, for Patterson-UTI Energy (PTEN) was $30.60 on April 19, 2017. PTEN is currently trading at ~$22.70, implying an ~35% upside at its average target price.

The mean target price, surveyed among the sell-side analysts, for TechnipFMC (FTI) was $38.70 on April 19. FTI is currently trading at ~$32.00, implying a 21% upside at its average target price.

You can learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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