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Wall Street Forecasts for Nabors Industries after 4Q17 Earnings

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Wall Street forecasts for Nabors Industries

On February 27, after 4Q17 earnings, approximately 66% of Wall Street analysts tracking Nabors Industries rated it a “buy” or equivalent. Approximately 34% rated the company a “hold.” None of the sell-side analysts recommended a “sell” or equivalent. Nabors Industries is 3.8% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES decreased 29% in the past year versus a 55% fall in NBR’s stock price.

In comparison, all of the Wall Street analysts tracking CARBO Ceramics (CRR) rated it a “hold” on February 27.

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Analysts’ rating changes for NBR

From November 27, 2017, to February 27, 2018, the percentage of sell-side analysts recommending a “buy” or some equivalent for NBR decreased from 70% to 66%. A year ago, ~76% of sell-side analysts recommended a “buy” for NBR.

Analysts’ target prices for NBR

Wall Street analysts’ mean target price for NBR on February 27 was ~$9.1. NBR is currently trading at ~$6.7, implying ~37% upside at its current price. A month ago, analysts’ average target price for NBR was nearly unchanged.

Target prices for NBR’s peers

The mean target price surveyed among sell-side analysts for Halliburton (HAL) was $63.6 on February 27. HAL is currently trading at ~$47.6, implying 33% upside at its current price. The mean target price surveyed among sell-side analysts for Weatherford International (WFT) was $4.9 on February 27. WFT is currently trading at ~$2.8, implying 73% upside at its current price.

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

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