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Nabors Industries: Strategies, Valuation, and Wall Street Ratings

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Part 7
Nabors Industries: Strategies, Valuation, and Wall Street Ratings PART 7 OF 7

What Analysts Are Recommending for Nabors Industries

Wall Street’s recommendations for Nabors Industries

Let’s look now at what Wall Street analysts are recommending for Nabors Industries (NBR) as of June 19, 2017.

What Analysts Are Recommending for Nabors Industries

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Analysts’ ratings for Nabors Industries

On June 19, 2017, approximately 81.0% of analysts tracking Nabors Industries rated it a “buy” or some equivalent. About 19.0% rated it a “hold,” and none of them rated it “underperform” or “sell.”

By comparison, as of June 19, 2017, about 31.0% of the analysts tracking Helmerich & Payne (HP) rated it a “buy” or some equivalent, and about 45.0% rated it a “hold.” Approximately 24.0% rated it a “sell.”

Analysts’ rating changes for NBR

From March 19, 2017, to June 19, 2017, the percentage of analysts recommending a “buy” or some equivalent for NBR has increased from 76.0% to the current 81.0%. Analysts’ “hold” recommendations have fallen during the same period. A year ago, ~60.0% of the sell-side analysts recommended a “buy” for NBR. Nabors Industries makes up 1.9% of the iShares US Oil Equipment & Services (IEZ). IEZ has fallen 11.0% in the past year compared to a 20.0% fall in NBR stock.

Analysts’ target prices for NBR and its peers

Wall Street analysts’ mean target price for NBR on June 19, 2017, was $16.30. NBR is currently trading at ~$8.30, implying a ~97.0% upside at its current median price. A month ago, analysts’ average target price for NBR was ~$17.

The mean target price surveyed among sell-side analysts for Patterson-UTI Energy (PTEN) is $29.50. PTEN is currently trading at ~$20.40, implying a ~45.0% upside to its average target price. The mean target price surveyed among sell-side analysts for Keane Group (FRAC) is $21.50. FRAC is currently trading at ~$15.10, implying a ~42.0% upside to its mean target price.

You can find out more about the OFS (oilfield services and equipment) industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.

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