Growth in international markets won't be enough for Nabors' profitability.
We are lowering our fair value estimate for Nabors to $7.50 per share from $8. This lowering comes from a lower long-term assessment for utilization of Nabors’ non-Tier 1 U.S. rigs, as well as lower estimates for overall U.S. horizontal rig margins and pricing. As we’ve mentioned in recent notes on peers Helmerich & Payne and Precision, we have become increasingly concerned about a potential lack of capital discipline in the land driller market. If additional rig newbuilds become an ongoing ...Nabors Industries, through its subsidiaries, owns and operates land-based drilling rig fleet and is a provider of offshore platform drilling rigs in the U.S. and several international markets. The company also provides directional drilling services, tubular services, performance tools, and technologies for its own rig fleet and those of third parties. The company's business is comprised of its land-based and offshore drilling rig operations and other rig related services and technologies, consisting of equipment manufacturing, rig instrumentation and optimization software. The company has five reportable segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions and Rig Technologies.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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