Weatherford Downgraded by Raymond James to “Market Perform” (WFT)
Weatherford (NYSE:WFT) was downgraded by stock analysts at Raymond James from an “outperform” rating to a “market perform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Shares of Weatherford (NYSE:WFT) opened at 15.74 on Thursday. Weatherford has a 1-year low of $8.84 and a 1-year high of $15.80. The stock’s 50-day moving average is $14.68 and its 200-day moving average is $13.46. The company’s market cap is $12.084 billion.
Weatherford (NYSE:WFT) last released its earnings data on Tuesday, July 30th. The company reported $0.15 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.15. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.88 billion. The company’s quarterly revenue was up 3.2% on a year-over-year basis. On average, analysts predict that Weatherford will post $0.83 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Wells Fargo & Co. downgraded shares of Weatherford (NYSE:WFT) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Separately, analysts at Iberia Capital initiated coverage on shares of Weatherford (NYSE:WFT) in a research note to investors on Wednesday, September 4th. They set an “outperform” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Weatherford (NYSE:WFT) from $18.00 to $24.00 in a research note to investors on Monday, August 12th. They now have an “overweight” rating on the stock.
Fourteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.83.
Weatherford International Ltd. (NYSE:WFT) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.