44 days have passed by since the last earnings report for Nabors Industries Ltd. (NYSE:NBR) and the new quarterly results look set to arrive in 41 days. The shares of NBR at the moment are trading at a volume of 16.59 million, which compares with its normal daily standard volume of 14090687 shares. This has led to the shares of the company advancing by 6.31%, currently exchanging hands at $2.36 a share. NBR stock has been up by $4.29 (-64.51%) ever since it reached its 52-week high of $6.65 back in October 09, 2018. It has progressed above its 50-day moving average of $2.128 and is up 41.32% over the past week. The stock has retreated -3.8% since the last one arrived so the question here is that will the downbeat trend in that time frame continue leading up to its next earnings release, or is the NBR share price due for a breakout?
Nabors Industries Ltd. (NBR) Forecasts And Latest Quarter Earnings
Ahead of their fiscal third-quarter to be released on Tuesday, Oct 22, 2019, 23 analysts who are covering the company are estimating that it will record a profit of -$0.22 per share, with analysts having different outlooks from -$0.3 to -$0.13. The current agreed outlook, when compared to the profit recorded last year, is at -$0.29 a share, thus a decrease of -24.14% is expected. The profit view for a complete financial year for Nabors Industries Ltd. is expected to be around -$1.27 in current year, a growth of nearly -26.16% from last year which was -$1.72.
Analyzing The Earnings History Of Nabors Industries Ltd. (NYSE:NBR)
In the past few years, the NBR stock has been known to miss the Wall Street’s earnings projection. The company missed 91% of the time, according to the data pulled on their earnings, was able to meet predictions on 0 occasions and topped expectations 1 times. Looking at the past trend, the price of Nabors Industries Ltd. shares had sank following the release of their earnings in 20 of the last 38 quarters.
Looking back, here is how Nabors Industries Ltd. (NBR) stock reacted to earnings misses and beats. It gave investors reason to be bullish with the price going down after 0 of the last four earnings reports. The shares of Nabors Industries Ltd. recorded 29.52%, 3.71%, 7.17% and 4.63%, respectively, on the first day of past earnings releases. After a week of earnings reports, the changes were 21.43%, 8.86%, 16.61% and 17.05%. Their post-earnings price movements have resulted in an average increase of 11.26% and an average increase of 15.99% in Nabors Industries Ltd. on next day and 7th day, sequentially. NBR’s one month stock performance led to its shares rising by 3.96% with a return of -59.45% witnessed over the last 52 weeks.
Nabors Industries Ltd. (NBR) Post Earnings Announcement Drift (PEAD)
Back on July 29, 2019, Nabors Industries Ltd. (NYSE:NBR) released its Q2 results, in which it recorded a loss of -$0.61 that fell short of consensus estimates of -$0.23. After the earnings were reported, the price of NBR stock kicked off the session at $1.99 and remained in a range of $2 to $2.75 on the first day. The shares were priced at $2.72 at the close with a total volume of shares being 27312256.
On April 30, 2019, the Q1 earnings report was disclosed with loss per share of -$0.36. This was below the estimation of -$0.26 per share. The stock price range of NBR was between $3.32 and $3.7 on the first-day post announcement, after opening the day at $3.32. The session came to close at $3.63 and there was a total volume of 18127694 shares.
February 26, 2019 was the day when its Q4 results were unveiled. The loss came in at -$0.55, missing the projected -$0.17 per share. The very next day, NBR stock opened at $2.82 while staying in a range of $2.97 to $3.34. At the end, it moved to $3.29 a total volume of shares been 23085420.
In the year-ago Q3 earnings on October 30, 2018, the company saw a loss per share of -$0.29. That was worse than the -$0.2 analysts had expected. Nabors Industries Ltd. share price started at $4.61 on the first full trading day post-earning and then exchanged hands between $4.7 and $5.26 throughout the session. The closing price of $4.97 came on the back of 21438482 shares in volume.