On December 03, 2019, Nabors Industries Ltd. (NYSE:NBR) shares lost -3.43% or -0.07 points to close at $1.97 with a thin trading volume of 5.051 million shares. It opened the trading session at $1.96, the shares rose to $2.06 and dropped to $1.93, the range by which the price of stock traded the whole day. The company now has a market cap of $820 million and currently has 416.21 million outstanding shares. Nabors Industries Ltd. (NBR) stock has accumulated 1.55 percent of market value in 21 trading days.
NBR stock’s trailing 3-year beta is 2.82, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was -$1.87 share in the trailing 52 weeks. The stock’s value fallen -1.5 percent year to date (YTD) compared to a decline of -39.01 percent in 52 week’s period. The firm’s shares are still trading -51.72 percent below its 1-year high of $4.08 and 31.33 percent up from 52-week low of $1.50. The average consensus ranking on the company is 2.7, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
Nabors Industries Ltd. (NBR) is most likely going to rise 35.03 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $4-month high price target. This represents a whopping 103.05 percent increase from the current trading of shares. The 52-week median price target given by the analysts is $2.25, which means a return possibility of 14.21 percent in comparison with the closing price of the stock of $1.97 on December 03. The lowest price set for the stock is $1.5 — just above -23.86 percent from NBR share price now.
Past records have indicated that shares in Nabors Industries Ltd. declined on 20 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of NBR’s Q4 earnings on February 19. Analysts are predicting revenue to suffer decline of -3.7 percent to $748M in the financial fourth quarter, while EPS will soar by about -50.91 percent to -$0.27 per share. Revenue for the quarter was $782.08M, missing the $805.82M analysts had expected. Earnings are seen to rise by -47 percent this year, 32.8 percent in the coming year.
Let’s take a glimpse at some insider activity at Nabors Industries Ltd. (NYSE:NBR) and observe the pattern. The earliest insider trade happened on 08/08/2019. Beder Tanya S gathered a total of 50 thousand shares of the firm at average share price of $2.31. The total amount for the purchase was set at $115.5 thousand. On completing this exchange, the Director account balance was 219.41 thousand shares. The stock lost -11.69 percent from that insider purchase. On 06/14/2019, Restrepo William J, CFO, did a purchase of 177.1 thousand shares at a price of $2.03 per share. This increased 359.51 thousand shares to the insider’s fortune and the stock experienced a 0.49 percent rally in price since the news became public. This exchange saw 2.22 million shares get into the CFO account.
On 11/06/2018, Director Kotts John P recorded a purchase transaction valued at $561 thousand. The purchase at $5.61 a share has added 100 thousand shares into the insider’s portfolio position. Meanwhile, shares price witnessed -63.64 percent decrease since the transaction reporting date. The company insider is left with 384.43 thousand shares remaining in the account. YEARWOOD JOHN, who works as Director at the company, performed a purchase of 197 thousand shares in a transaction worth $1.01 million. The acquisition recorded on 11/01/2018 was priced at $5.14 per share. The stock price plunged -60.31 percent since the transaction. YEARWOOD JOHN currently holds a stake of 397.43 thousand in NBR stock which is worth $782.94 thousand after the insider buying.
The stock is lingering around the initial support level of $1.91. After this, the following support is at the zone of $1.86. Up until the time the NBR stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 52.03 on the daily chart, and this may be a cause for concern. In case the price goes below $1.86 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $2.04 level may cause a pull-back move approaching $2.12 mark.
Nabors Industries Ltd. has a 35.6% gross profit margin, with its operating margin around -9.9%. Alongside this, the company’s net profit margin currently stands at -21.1%.