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Nabors Industries: What’s Wall Street Saying after Q1 Earnings?

Nabors Beat Q1 Earnings Estimates, so Why Did the Stock Fall?

(Continued from Prior Part)

Wall Street’s forecasts for Nabors Industries

In this article, we’ll look at Wall Street analysts’ forecasts for Nabors Industries’ (NBR) shares following the company’s fiscal 1Q16 earnings release.

Consensus rating for Nabors Industries

Approximately 62% of analysts tracking Nabors Industries rate it a “buy” or some equivalent. Approximately 38% rate the company a “hold” or an equivalent. None recommended a “sell.” Nabors Industries is 0.2% of the SPDR S&P MidCap 400 ETF (MDY).

In comparison, approximately 27% of analysts tracking C&J Energy Services (CJES) rate it a “buy” or some equivalent, and approximately 64% rate it a “hold” while 9% rate it a “sell.”

Analysts’ recommendations for NBR

When it comes to individual recommendations, Cowen (COWN) gave Nabors Industries a target price of $8.75 following the fiscal 1Q16 earnings release. Nabors Industries currently trades near $9.3, implying about a -6% return for the next 12 months. Nomura gave NBR a one-year target price of $8, one of its lowest target prices. This target implies a -14% return over the next year.

Among the large investment banks, Piper Jaffray (PJC) gave Nabors Industries a one-year target price of $10.5. This target implies a ~12% return at its current price over the next 12 months.

Analysts’ target prices for NBR

Following the fiscal 1Q16 financial results, the highest target price for NBR is $11 and the lowest is $8.5. The median target price surveyed among sell-side analysts for NBR is $10.75. NBR is currently trading at ~$9.3, implying a ~15% upside at its median price.

Learn more about the oil and gas industry on Market Realist’s Energy and Power page.

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