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Nabors Industries: Returns, Valuation, and Wall Street Rating

PART:
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Part 7
Nabors Industries: Returns, Valuation, and Wall Street Rating PART 7 OF 7

How Wall Street Analysts Viewed Nabors Industries on August 18

Analysts’ rating for Nabors Industries

On August 18, 2017, ~73% of the Wall Street analysts tracking Nabors Industries rated it as a “buy” or some equivalent, and ~27% of these analysts rated the company as a “hold.” The company didn’t receive any “underperform” or “sell” ratings.

In comparison, approximately 24% of the sell-side analysts tracking National Oilwell Varco (NOV) rated it as a “buy” or some equivalent on August 18. Approximately 65% of these analysts rated it as a “hold,” and ~12% rated it as a “sell” on June 19.

How Wall Street Analysts Viewed Nabors Industries on August 18

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Analysts’ rating changes for NBR

From May 18 to August 18, 2017, the percentage of analysts recommending a “buy” or some equivalent for NBR has decreased from 79% to 73%. Analysts’ “hold” recommendations have increased during the same period. A year ago, ~62% of the sell-side analysts recommended a “buy” for NBR.

Nabors Industries comprises 2.2% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ has declined 24% in the past year versus the 35% fall in NBR’s stock price during the same period.

Analysts’ target prices for NBR and its peers

Wall Street analysts’ mean target price for NBR on August 18 was $11.10. NBR is currently trading at ~$6.60, implying an ~69% upside at its current median price. A month ago, analysts’ average target price for NBR was ~$13.10.

As surveyed among the sell-side analysts, the mean target price for Helmerich & Payne (HP) is $53.10. HP is currently trading at ~$43.70, implying an ~21% upside at its average target price.

As surveyed among the sell-side analysts, the mean target price for NCS Multistage Holdings (NCSM) is $29.90. NCSM is currently trading at ~$19.90, implying an ~50% upside at its mean 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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