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Nabors Industries Ltd. (NYSE:NBR) has announced that its second blank check company, Nabors Energy Transition Corp. II (NETD), has filed to raise up to $300 million in an initial public offering (IPO) on the Nasdaq under the symbol ‘NETDU'.
Nabors Energy Transition Corp. II, a blank-check company sponsored by oil services company Nabors Industries Ltd. NBR, +3.07%, filed to raise up to $300 million in an initial public offering on the Nasdaq under the symbol “NETD”.
Some of the notable companies to have witnessed solid earnings acceleration as of now are Constellation Energy Corporation (CEG), Nabors Industries Ltd. (NBR) and Brookfield Renewable Partners (BEP).
Nabors Industries' stock price has underperformed YTD due to macro concerns and weak gas prices, but its fundamentals suggest a value opportunity. The company's advanced drilling technology and global presence provide moats even if U.S. shale activity slows down. The guided FCF yield to market cap is 46% and analyst targets suggest 70% average upside.
Nabors (NBR) reported earnings 30 days ago. What's next for the stock?
Nabors (NBR) expects Q2 2023 capital expenditure of $140 million. It also anticipates an approximate $400 million adjusted free cash flow for full-year 2023.
Nabors Industries Ltd. (NBR) Q1 2023 Earnings Call Transcript.
The headline numbers for Nabors (NBR) give insight into how the company performed in the quarter ended March 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Nabors Industries (NBR) came out with a quarterly loss of $0.55 per share versus the Zacks Consensus Estimate of $1.06. This compares to loss of $13.88 per share a year ago.
China's economy has woken up from its long COVID slumber. The 12-month trend for one of the most reliable economic activity indicators, the Caixin Manufacturing PMI, has crossed into expansion levels for the first time since.