Susquehanna Remains a Buy on Nabors Industries
Susquehanna analyst Charles Minervino reiterated a Buy rating on Nabors Industries (NYSE: NBR) on June 18 and set a price target of $9. The company’s shares opened today at $6.34.
According to TipRanks.com, Minervino is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.9% and a 37.1% success rate. Minervino covers the Basic Materials sector, focusing on stocks such as Baker Hughes a GE company, Diamond Offshore Drilling, and Schlumberger Limited.
Nabors Industries has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.
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Based on Nabors Industries’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $143 million. In comparison, last year the company had a GAAP net loss of $145 million.
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Nabors Industries Ltd. engages in the provision of platform work over and drilling rigs. It operates through the following segmetns: U.S., Canada, International, Drilling Solutions, and Rig Technologies. The U.S. segment includes land drilling activities in states and Alaska as well as offshore operations in the Gulf of Mexico.