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.
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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.