Weatherford Upgraded to “Outperform” by Credit Suisse (WFT)
Weatherford (NYSE:WFT) was upgraded by Credit Suisse from a “neutral” rating to an “outperform” rating in a research note issued on Friday, TheFlyOnTheWall.com reports.
Weatherford (NYSE:WFT) traded up 0.20% on Friday, hitting $15.00. 2,402,872 shares of the company’s stock traded hands. Weatherford has a 52 week low of $8.84 and a 52 week high of $15.80. The stock has a 50-day moving average of $14.71 and a 200-day moving average of $13.4. The company’s market cap is $11.516 billion. Weatherford also was the recipient of some unusual options trading on Thursday. Stock investors purchased 15,088 call options on the company. This is an increase of 241% compared to the typical volume of 4,419 call options.
Weatherford (NYSE:WFT) last issued its quarterly 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 Macquarie downgraded shares of Weatherford (NYSE:WFT) from an “outperform” rating to a “neutral” rating in a research note to investors on Thursday. Separately, analysts at Raymond James downgraded shares of Weatherford (NYSE:WFT) from an “outperform” rating to a “market perform” rating in a research note to investors on Thursday. Finally, 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. They now have a $14.53 price target on the stock, down previously from $14.78.
Thirteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $15.92.
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.
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