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What the Market Is Saying about Nabors Industries

PART:
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Part 5
What the Market Is Saying about Nabors Industries PART 5 OF 5

Analysts’ Ratings for Nabors Industries as of September 1

Wall Street’s ratings for Nabors Industries

In this part of the series, we’ll look at Wall Street analysts’ ratings for Nabors Industries (NBR) on September 1, 2017.

Analysts’ Ratings for Nabors Industries as of September 1

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On September 1, 2017, 70.0% of Wall Street analysts tracking Nabors Industries rated it a “buy” or some equivalent. About 30.0% rated it a “hold.” None of the analysts rated it an “underperform” or “sell.”

By comparison, 63.0% of the sell-side analysts tracking Fairmount Santrol Holdings (FMSA) rated it a “buy” or some equivalent on September 1. About 31.0% have rated it a “hold,” and 6.0% have rated it a “sell” on September 1.

Analysts’ rating changes for NBR

From June 1, 2017, to September 1, 2017, the percentage of analysts recommending a “buy” or some equivalent for NBR has fallen from 79.0% to 70.0%. Analysts’ “hold” recommendations have increased during the same period. A year ago, ~62.0% of the sell-side analysts recommended a “buy” for NBR. Nabors Industries accounts for 2.2% of the iShares US Oil Equipment & Services (IEZ). IEZ has fallen 17.0% in the past year compared to a 35.0% fall in NBR stock during the same period.

Analysts’ target prices for NBR and its peers

Wall Street analysts’ mean target price for NBR on September 1, 2017, was $10.70. NBR is currently trading at $6.60, which implies a 61.0% upside to its current median price. A month ago, analysts’ average target price for NBR was $12.80.

The mean target price surveyed among sell-side analysts for Patterson-UTI Energy (PTEN) is $24.90. PTEN is currently trading at $15.90, implying a 56.0% upside to its average target price. The mean target price surveyed among sell-side analysts for NCS Multistage Holdings (NCSM) is $29.90. NCSM is currently trading at $20, implying a 50.0% upside to its mean target price.

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

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