Equities analysts expect that Weatherford International (NYSE:WFT) will report ($0.21) earnings per share for the current quarter, Zacks reports. Ten analysts have made estimates for Weatherford International’s earnings. The highest EPS estimate is ($0.14) and the lowest is ($0.24). Weatherford International posted earnings per share of ($0.32) during the same quarter last year, which would suggest a positive year over year growth rate of 34.4%. The business is scheduled to report its next earnings results before the market opens on Tuesday, April 24th.
On average, analysts expect that Weatherford International will report full year earnings of ($0.62) per share for the current fiscal year, with EPS estimates ranging from ($0.79) to ($0.36). For the next year, analysts anticipate that the company will report earnings of ($0.16) per share, with EPS estimates ranging from ($0.52) to $0.08. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Weatherford International.
Weatherford International (NYSE:WFT) last released its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.12). The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Weatherford International had a negative return on equity of 114.20% and a negative net margin of 49.36%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) EPS.
WFT has been the subject of a number of research reports. Bank of America raised shares of Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, January 16th. Zacks Investment Research cut shares of Weatherford International from a “hold” rating to a “sell” rating in a research note on Sunday, January 21st. Tudor Pickering cut shares of Weatherford International from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. BMO Capital Markets reissued a “hold” rating on shares of Weatherford International in a research note on Thursday, January 25th. Finally, Cowen reissued a “buy” rating and set a $6.00 target price on shares of Weatherford International in a research note on Monday, February 5th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. Weatherford International presently has a consensus rating of “Hold” and a consensus price target of $5.03.
In related news, VP Douglas M. Mills sold 6,072 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $4.24, for a total transaction of $25,745.28. Following the completion of the sale, the vice president now owns 232,399 shares of the company’s stock, valued at approximately $985,371.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Douglas M. Mills sold 15,223 shares of the company’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $4.07, for a total transaction of $61,957.61. Following the sale, the vice president now directly owns 256,402 shares of the company’s stock, valued at approximately $1,043,556.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,226 shares of company stock valued at $165,523. 0.44% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $104,000. Investors Research Corp purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $105,000. Balentine LLC grew its stake in shares of Weatherford International by 68.5% in the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after buying an additional 14,922 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Weatherford International by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock valued at $215,000 after buying an additional 4,497 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Weatherford International in the 4th quarter valued at approximately $216,000.
Shares of WFT stock traded down $0.07 on Monday, reaching $2.35. 17,120,951 shares of the company were exchanged, compared to its average volume of 20,267,410. The stock has a market capitalization of $2,404.55, a P/E ratio of -2.03 and a beta of 2.34. The company has a quick ratio of 1.19, a current ratio of 1.74 and a debt-to-equity ratio of -13.21. Weatherford International has a 1 year low of $2.07 and a 1 year high of $6.61.
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Weatherford International Company Profile
Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging.
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