What Are Analyst Forecasts for NBR before 4Q15 Earnings?
Will Nabors Industries' 4Q15 Earnings Fall as Much as Expected?
Wall Street’s forecasts for Nabors Industries
In this article, we will look at the recent Wall Street analysts’ forecasts for Nabors Industries (NBR).
Consensus rating for Nabors Industries
Approximately 59% of analysts tracking Nabors Industries rated it a “buy” or some equivalent. Approximately 41% rated the company a “hold” or an equivalent, and none of the analysts recommended a “sell.” Nabors Industries makes up 0.15% of the SPDR S&P MidCap 400 ETF (MDY).
In comparison, approximately 66% of analysts tracking Weatherford International (WFT), Nabors Industries’ peer, rate it a “buy” or some equivalent, and approximately 28% of analysts tracking it rate it a “hold,” while the rest rate it a “sell.”
Analysts’ recommendations for Nabors Industries
When it comes to individual recommendations, Guggenheim Securities, the investment banking subsidiary of Canadian Bank of Montreal, gave NBR a target price of $14, one of its highest target prices. NBR currently trades near $7, implying a ~100% return over the next 12 months. RBC Capital Markets, a part of the Royal Bank of Canada, has a $9 target price for NBR, one of the lowest targets. At its current share price, this target implies a 28% return over the next 12 months.
Among the large investment banks, Morgan Stanley (MS) gives NBR a target of $12. This implies a ~71% return from Nabors Industries over the next 12 months.
Analysts’ targets for Nabors Industries
While the highest target price for Nabors Industries is $14, the lowest is $6.5. The median target price among the sell-side analysts for Nabors Industries is ~$10.3. Nabors Industries is currently trading at ~$7, implying a ~47% upside at its median price.
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