During the last session, Nabors Industries Ltd. (NYSE:NBR)’s traded shares were 0.17 million, with the beta value of the company hitting 2.73. At the end of the trading day, the stock’s price was $123.65, reflecting an intraday gain of 6.93% or $8.01. The 52-week high for the NBR share is $207.67, that puts it down -67.95 from that peak though still a striking 46.96% gain since the share price plummeted to a 52-week low of $65.58. The company’s market capitalization is $1.07B, and the average intraday trading volume over the past 10 days was 0.14 million shares, and the average trade volume was 193.47K shares over the past three months.
Nabors Industries Ltd. (NYSE:NBR) trade information
Nabors Industries Ltd. (NBR) registered a 6.93% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 6.93% in intraday trading to $123.65 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is -13.22%, and it has moved by 7.42% in 30 days. Based on these gigs, the overall price performance for the year is 56.10%. The short interest in Nabors Industries Ltd. (NYSE:NBR) is 0.55 million shares and it means that shorts have 2.42 day(s) to cover.
The consensus price target of analysts on Wall Street is $174.11, which implies an increase of 28.98% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $125.00 and $243.00 respectively. As a result, NBR is trading at a discount of -96.52% off the target high and -1.09% off the low.
Nabors Industries Ltd. (NBR) estimates and forecasts
Statistics show that Nabors Industries Ltd. has outperformed its competitors in share price, compared to the industry in which it operates. Nabors Industries Ltd. (NBR) shares have gone up 11.84% during the last six months, with a year-to-date growth rate more than the industry average at 59.92% against 40.60. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 56.30% this quarter and then jump 61.30% in the quarter after that. In the rating firms’ projections, revenue will increase 32.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $597.98 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $638.88 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $417.36 million and $442.09 million respectively. In this case, analysts expect current quarter sales to grow by 43.30% and then jump by 44.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 16.00%. While earnings are projected to return 35.50% in 2022, the next five years will return -10.00% per annum.
Nabors Industries Ltd. is due to release its next quarterly earnings between April 26 and May 02. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Nabors Industries Ltd. (NYSE:NBR)’s Major holders
Nabors Industries Ltd. insiders own 5.15% of total outstanding shares while institutional holders control 79.78%, with the float percentage being 84.11%. Blackrock Inc. is the largest shareholder of the company, while 288 institutions own stock in it. As of Mar 30, 2022, the company held over 1.28 million shares (or 12.16% of all shares), a total value of $194.99 million in shares.
The next largest institutional holding, with 0.58 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 5.56% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $89.16 million.
Also, the Mutual Funds coming in first place with the largest holdings of Nabors Industries Ltd. (NBR) shares are iShares Core S&P Smallcap ETF and VanEck ETF Trust-VanEck Oil Services ETF. Data provided on Jun 29, 2022 indicates that iShares Core S&P Smallcap ETF owns about 0.63 million shares. This amounts to just over 5.98 percent of the company’s overall shares, with a $84.07 million market value. The same data shows that the other fund manager holds slightly less at 0.44 million, or about 4.18% of the stock, which is worth about $58.83 million.