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Stock Market & Financial Investment News

News Breaks
February 19, 2013
16:09 EDTNBRNabors Industries reports Q4 EPS with gains 44c, consensus 29c
Reports Q4 revenue $1.63B, consensus $1.66B. Q4 income per share of 44c benefited from net gains on asset dispositions, higher investment income and a favorable tax rate. Results also included an operating income charge of $17.7M due to the establishment of reserves with respect to a customer bankruptcy and lower expected margins on a construction project in U.S. Offshore operations, essentially offset by $16.3M in early contract termination payments during the quarter that are attributable to future periods. Net gains on asset dispositions were $17.2M, or 4c per share. The higher than usual investment income reflected non-cash mark-to-market increases in certain securities, principally a portion of the company's interest in Honghua Group, a Chinese rig manufacturer. The quarter's results also reflect a tax adjustment to bring the full year normalized tax rate to 25%, resulting in a Q4 effective tax rate of 3%, for an EPS impact of approximately 10c per diluted share.
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February 10, 2016
07:00 EDTNBRNabors Industries offers best value among Land Drillers, says Citi
After assessing a range of net asset values for Land Drillers based on a various recovery scenarios, Citi analyst Scott Gruber says Nabors Industries (NBR) offers the best value within the group. The stock presents upside of 200% in his bull case and 65% downside in his bear case. Gruber calls Halliburton (HAL) his top pick, however, saying frac "offers superior recovery potential" to land rigs. The analyst has Buy ratings on both names along with Patterson-UTI (PTEN). He has a Neutral rating on Helmerich & Payne (HP).
February 2, 2016
07:18 EDTNBRJefferies sees relative value in Nabors Industries
Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.

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