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Nabors Industries: Analysts’ Forecasts after Its Earnings

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Analysts’ forecasts for Nabors Industries

In this part, we’ll look at Wall Street analysts’ forecasts for Nabors Industries (NBR) following its second-quarter earnings release.

Analysts’ rating

As of August 1, the day after Nabors Industries’ second-quarter earnings release, ~76% of the analysts tracking Nabors Industries rated it as a “buy” or some equivalent, ~24% rated the company as a “hold,” and none of the sell-side analysts rated the company as a “sell.”

In comparison, ~80% of the analysts tracking Patterson-UTI Energy (PTEN) rated it as a “buy” or some equivalent as of August 1, while ~20% rated it as a “hold.”

Rating changes 

On May 1–August 1, the percentage of analysts recommending a “buy” or some equivalent for Nabors Industries increased from 66% to 76%. Analysts’ “hold” recommendations decreased during the same period. As of August 1, 2017, ~67% of the sell-side analysts recommended a “buy” for Nabors Industries.

Target prices 

As of August 1, analysts’ mean target price for Nabors Industries was ~$9.3. Currently, Nabors Industries is trading at ~$6.4, which implies ~45% upside at its current price. Analysts’ average target price for Nabors Industries was $9.7 as of July 1.

The mean target price, surveyed among the sell-side analysts, for Oil States International (OIS) was $34.5 as of August 1. Currently, Oil States International is trading at $33.6, which implies nearly 3% potential upside at its current price. Sell-side analysts’ mean target price for Oceaneering International (OII) was $22.2 on August 1. Currently, Oceaneering International is trading at ~$26.8, which implies 17% downside at its current price.

To learn more, read The Oilfield Equipment and Services Industry: A Primer.

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