Notable Downgrades: Nabors (NBR), Tuniu Corp (TOUR), Patterson-UTI Energy (PTEN), Abercrombie & Fitch (ANF), First Solar (FSLR)

Analysts at Credit Agricole downgraded Nabors Industries Ltd. (NBR) from ‘Outperform‘ to ‘Underperform‘ in a research report issued to clients on Tuesday.

On valuation measures, Nabors Industries has a t-12-month revenue of $6.63 billion. NBR’s ROE for the same period is (10.79%).

Shares of the $4.24 billion market cap company are down 38.76% year-over-year ; up 21.59% year-to-date.

Nabors Industries Ltd., currently with a median Wall Street price target of $18.00 and a high target of $21.00, dropped $1.14 to $14.57 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

Tuniu Corporation (TOUR) was downgraded from ‘Outperform‘ to ‘Neutral‘ at Credit Suisse (CS).

Shares have traded today between $18.50 and $20.62 with the price of the stock fluctuating between $10.33 to $24.99 over the last 52 weeks.

Tuniu Corp. ADS shares have a t-12 price/sales ratio of 1.27. EPS for the same period registers at ($2.12).

Shares of TOUR have lost $1.40 to $18.93 in mid-day trading on Tuesday, giving it a market cap of roughly $676 million. The stock traded as high as $24.99 in August 8, 2014.

Credit Agricole reported on Tuesday that they have lowered their rating for Patterson-UTI Energy Inc. (PTEN). The bank has downgraded PTEN from ‘Outperform‘ to ‘Underperform‘.

Patterson-UTI Energy Inc. recently traded at $20.05, a loss of $1.35 over Friday’s closing price. The name has a current market cap of $2.94 billion.

As for passive income investors, the onshore contract drilling company pays shareholders $0.40 per share annually in dividends, yielding 1.80%. Five year average dividend yield currently stands at 1.20%.

Abercrombie & Fitch Co. (ANF) rating of ‘Sell’ was reiterated today at Wunderlich with a price target decrease of $15 from $17 (versus a $20.82 previous close).

ANF was down $0.75 at $20.07 in mid-day trade, moving within a 52-week range of $19.34 to $45.50. The name, valued at $1.40 billion, opened at $20.59.

On valuation measures, Abercrombie & Fitch Co. shares are currently priced at 28.27x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of $0.39. EPS for the same period registers at $0.71.

As for passive income investors, the New Albany, Ohio-based company pays stockholders $0.80 per share annually in dividends, yielding 3.70%.

First Solar, Inc. (FSLR) was downgraded to ‘Underperform’ from ‘Sector Perform’ at RBC Capital Markets.

Shares have traded today between $50.71 and $53.03 with the price of the stock fluctuating between $39.18 to $73.78 over the last 52 weeks.

First Solar Inc. shares are currently changing hands at 23.48x this year’s forecasted earnings. Ticker has a t-12 price/sales ratio of 1.91. EPS for the same period registers at $2.20.

Shares of FSLR have lost $3.31 to $51.76 in mid-day trading on Tuesday, giving it a market cap of roughly $5.3 billion. The stock traded as high as $73.78 in September 12, 2014.

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