Tomahawk, WI 04/24/2014 (Basicsmedia) – Nabors Industries Ltd. (NYSE:NBR) is on the rising stage and a strong first quarter witnessed by the company attracts investors. Investors are now taking a close look at Nabors. The company which is into drilling and rig services witnessed an optimistic result.

Nabors marching higher

In spite of the weather related interruptions the company managed to walk higher and showcased a solid performance in its drilling operations.

The next two quarters are expected to be challenging for Nabors due to the launch of rigs by its competitors. The shares jumped to $25.23 which is a 1.90% hike.

Nabors Industries Ltd. (NYSE:NBR) witnessed an operating income of $109.0 which is the adjusted income. This is lower than that of the first quarter last year. During 1Q2013, the company had a net income of $143.1 million and during the 4Q2013 the company witnessed an operating income of $159.6 million.

The net income of the company was $49.0 million as compared to $92.2 million last year. The operating revenue and net income totaled to an amount of $1.59 billion.

Should the stocks be considered

The shares have increased form an underperforming rating to a neutral rating. Nabors had a 52 week low of $14.34, and the stock witnessed a 50 day moving average of $23.68. Market capital of Nabors is $7.481 billion, and the Equity ratio is 52.57. The stock finally has a rating of hold.

The drilling and rigs company is all set to move on a steady rise and is planning to witness a successful second quarter. The business delivered a strong operating performance and the Earnings per share totaled to $0.16 from the continuing operations.

A profit of $49.2 million was reported, and 16 cents earnings per share were reported. The results outreached the expectations of the analysts.

Various challenges were faced by Nabors Industries Ltd. (NYSE:NBR) while the 1Q2014 in spite of the drilling boom in U.S. Nabors is on its way to improving its balance sheet and reduce its interest costs.

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