Wall Street brokerages predict that Weatherford International plc (NYSE:WFT) will post sales of $1.52 billion for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Weatherford International’s earnings, with the highest sales estimate coming in at $1.53 billion and the lowest estimate coming in at $1.51 billion. Weatherford International posted sales of $1.46 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Monday, October 29th.
On average, analysts expect that Weatherford International will report full year sales of $5.94 billion for the current financial year, with estimates ranging from $5.85 billion to $6.02 billion. For the next fiscal year, analysts expect that the business will report sales of $6.35 billion per share, with estimates ranging from $6.05 billion to $6.81 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Weatherford International.
Weatherford International (NYSE:WFT) last posted its quarterly earnings data on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. Weatherford International’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) EPS.
Several analysts recently issued reports on WFT shares. Zacks Investment Research raised shares of Weatherford International from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. Credit Suisse Group set a $4.00 target price on shares of Weatherford International and gave the company a “buy” rating in a research note on Thursday, May 24th. BMO Capital Markets set a $4.00 target price on shares of Weatherford International and gave the company a “buy” rating in a research note on Wednesday, July 11th. Stifel Nicolaus began coverage on shares of Weatherford International in a research note on Monday. They set a “hold” rating and a $3.00 target price for the company. Finally, Jefferies Financial Group set a $4.00 target price on shares of Weatherford International and gave the company a “hold” rating in a research note on Monday, July 30th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Weatherford International has an average rating of “Buy” and an average price target of $4.57.
In other news, Director William E. Macaulay sold 767,591 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $2.86, for a total value of $2,195,310.26. Following the completion of the transaction, the director now owns 399,443 shares in the company, valued at approximately $1,142,406.98. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.44% of the company’s stock.
Several hedge funds have recently made changes to their positions in WFT. First Trust Advisors LP acquired a new position in shares of Weatherford International in the 2nd quarter valued at $119,000. GSA Capital Partners LLP acquired a new position in shares of Weatherford International in the 2nd quarter valued at $158,000. Quantbot Technologies LP acquired a new position in shares of Weatherford International in the 1st quarter valued at $159,000. Crawford Investment Counsel Inc. raised its stake in shares of Weatherford International by 109.9% in the 1st quarter. Crawford Investment Counsel Inc. now owns 77,247 shares of the oil and gas company’s stock valued at $177,000 after buying an additional 40,450 shares in the last quarter. Finally, Icon Wealth Partners LLC raised its stake in shares of Weatherford International by 25.3% in the 1st quarter. Icon Wealth Partners LLC now owns 79,927 shares of the oil and gas company’s stock valued at $183,000 after buying an additional 16,156 shares in the last quarter.
Shares of NYSE WFT traded down $0.05 during trading hours on Thursday, hitting $2.51. 14,928,000 shares of the stock were exchanged, compared to its average volume of 20,044,350. The company has a current ratio of 1.68, a quick ratio of 1.16 and a debt-to-equity ratio of -5.82. The company has a market cap of $2.48 billion, a P/E ratio of -2.21 and a beta of 2.41. Weatherford International has a one year low of $2.07 and a one year high of $4.72.
About Weatherford International
Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.
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