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Nabors Industries (NBR)

Sep 11, 2009 (Zacks.com via COMTEX) -- By Zacks Equity Research

Company: Nabors Industries Ltd (NBR)

Nabors Industries (NBR) second-quarter earnings of $0.32 per share topped the Zacks Consensus Estimate of $0.28 buoyed by stronger margins associated with new rig deployments in its international operations and solid performance from the Alaska sub-segment.

However, results were significantly below year-earlier levels, reflecting a sustained slowdown in North American activity levels.

We remain concerned about the North American land drilling scene and its impact on Nabors, the largest onshore driller. This, coupled with the company s relatively weak balance sheet in an environment of continued credit market turmoil, accounts for our Underperform recommendation.

The Bear of the Day is one of the latest Sell recommendations from Zacks Equity Research. Our team of analysts consistently identify stocks set to outperform the market (Bull of the Day) and underperform the market over the next six months. Discover More Bear of the Day stocks.

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Company: Nabors Industries Ltd (NBR)


Related terms: earnings, environment, equity, investment opinion, research

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