Market Overview

Expecting Continued Pressure On Oil Prices, Argus Maintains A Hold On Nabors Industries


Argus maintained its Hold rating on Nabors Industries Ltd. (NYSE: NBR) as it expects crude oil prices to remain low, while anticipating reduced drilling activity over the next several quarters.

"We expect this oilfield services company to post an adjusted loss in both 2016 and 2017," analyst David Coleman wrote in a note.

Meanwhile, Coleman narrowed his 2016 loss estimate to $1.57 from $1.66 per share and 2017 loss estimate to $1.10 from $1.26 per share. The consensus forecast calls for a loss of $1.29 per share for 2016.

Despite the company benefiting from international diversification, the analyst prefers to remain cautious given the challenging industry outlook.

NBR shares have underperformed over the past three months, declining 5.1 percent while the S&P 500 has risen 3.4 percent.

At time of writing, shares of Nabors were up 0.38 percent to $10.48.

Latest Ratings for NBR

Aug 2020CitigroupDowngradesNeutralSell
Aug 2020Goldman SachsDowngradesNeutralSell
Aug 2020BarclaysUpgradesUnderweightEqual-Weight

View More Analyst Ratings for NBR
View the Latest Analyst Ratings


Related Articles (NBR)

View Comments and Join the Discussion!

Posted-In: Argus David ColemanAnalyst Color Commodities Reiteration Markets Analyst Ratings

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at