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Nabors (NBR) Q4 Loss Narrower Than Expected, Revenues Meet
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On Feb 22, Nabors Industries Ltd. (NBR - Free Report) reported fourth-quarter 2016 adjusted loss from continuing operations of 30 cents per share, narrower than the Zacks Consensus Estimate of a loss of 32 cents. The quarterly figure was wider than the year-ago adjusted loss of 22 cents per share.
Total revenue of $539 million came in line with the Zacks Consensus Estimate but decreased from $694 million in fourth-quarter 2015.
Nabors’ U.S. operations generated quarterly revenues of $148.9 million, down 33% from the year-ago level. The deterioration stemmed from an operating loss of $42.9 million as against a loss of $7.4 million in the prior-year period.
The Canadian market witnessed a year-over-year decline of 40.3% in revenues and recorded sales of $16.9 million. Moreover, the segment’s quarterly loss of $8.6 million was substantially wider than an operating loss of $1 million in the year-ago quarter. Lower rig activity was the primary reason behind the deterioration.
Nabors Industries Ltd. Price, Consensus and EPS Surprise
Nabors’ international operations registered a 23.5% year-over-year decline in revenues to $343.3 million. Operating income plunged 60.7% from fourth-quarter 2015 to $20.4 million.
Revenues at the Rig Services segment decreased 12.6% from the prior-year quarter to $63.7 million. The unit incurred loss of $5.2 million, narrower than a loss of $13.5 million in the year-earlier quarter.
Direct Cost
Direct expenses related to operations came in at $331.6 million, down 25.5% from the year-ago quarter.
Balance Sheet
As of Dec 31, 2016, the company had $295.2 million in cash and short-term investments and $3,578.3 million in long-term debt, with a debt-to-capitalization ratio of approximately 52.4%.
Zacks Rank
Nabors currently has a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
In the last four quarters, Sunrun posted an average positive earnings surprise of 134.7%.
In the second last quarter, Delek Logistics Partners posted a positive earnings surprise of 13.8%.
In the last four quarters, Ultra Petroleum posted a positive earnings surprise of 93.7%.
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In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>
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Nabors (NBR) Q4 Loss Narrower Than Expected, Revenues Meet
On Feb 22, Nabors Industries Ltd. (NBR - Free Report) reported fourth-quarter 2016 adjusted loss from continuing operations of 30 cents per share, narrower than the Zacks Consensus Estimate of a loss of 32 cents. The quarterly figure was wider than the year-ago adjusted loss of 22 cents per share.
Total revenue of $539 million came in line with the Zacks Consensus Estimate but decreased from $694 million in fourth-quarter 2015.
Nabors’ U.S. operations generated quarterly revenues of $148.9 million, down 33% from the year-ago level. The deterioration stemmed from an operating loss of $42.9 million as against a loss of $7.4 million in the prior-year period.
The Canadian market witnessed a year-over-year decline of 40.3% in revenues and recorded sales of $16.9 million. Moreover, the segment’s quarterly loss of $8.6 million was substantially wider than an operating loss of $1 million in the year-ago quarter. Lower rig activity was the primary reason behind the deterioration.
Nabors Industries Ltd. Price, Consensus and EPS Surprise
Nabors Industries Ltd. Price, Consensus and EPS Surprise | Nabors Industries Ltd. Quote
Nabors’ international operations registered a 23.5% year-over-year decline in revenues to $343.3 million. Operating income plunged 60.7% from fourth-quarter 2015 to $20.4 million.
Revenues at the Rig Services segment decreased 12.6% from the prior-year quarter to $63.7 million. The unit incurred loss of $5.2 million, narrower than a loss of $13.5 million in the year-earlier quarter.
Direct Cost
Direct expenses related to operations came in at $331.6 million, down 25.5% from the year-ago quarter.
Balance Sheet
As of Dec 31, 2016, the company had $295.2 million in cash and short-term investments and $3,578.3 million in long-term debt, with a debt-to-capitalization ratio of approximately 52.4%.
Zacks Rank
Nabors currently has a Zacks Rank #3 (Hold), implying that the stock will perform in line with the broader U.S. equity market over the next one to three months.
Some better-ranked players from the broader energy sector include Sunrun Inc. (RUN - Free Report) , Delek Logistics Partners, L.P. (DKL - Free Report) and Ultra Petroleum Corp. . All these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
In the last four quarters, Sunrun posted an average positive earnings surprise of 134.7%.
In the second last quarter, Delek Logistics Partners posted a positive earnings surprise of 13.8%.
In the last four quarters, Ultra Petroleum posted a positive earnings surprise of 93.7%.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017? Who wouldn't? Last year's market-beating Top 10 portfolio produced 5 double-digit winners. For example, oil and natural gas giant Pioneer Natural Resources and First Republic Bank racked up stellar gains of +44.9% and +44.3% respectively. Now a brand-new list for 2017 has been hand-picked from 4,400 companies covered by the Zacks Rank. See the 2017 Top 10 right now>>