Weatherford Given “Neutral” Rating at Zacks (WFT)
Weatherford (NYSE:WFT)‘s stock had its “neutral” rating reaffirmed by Zacks in a report released on Thursday, ARN reports. They currently have a $16.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 3.29% from the company’s current price.
Zacks‘ analyst wrote, “There are plenty of positives for Weatherford, including its leading position in the global oilfield services market, its broad and technologically-complex product/service offerings, and its growing presence in the relatively stable Eastern Hemisphere. The company’s third quarter 2013 topline improved on an annualized basis mainly due to positive contributions from all segments except North America. The company is well positioned to take advantage of the multi-year expansion in the international upstream segment. The process is ongoing and is likely to gather momentum through 2014. However, Weatherford’s debt heavy balance sheet and weak ability to generate free cash somewhat temper our outlook. As such, we see the stock performing in line with the broader market and have maintained our Neutral recommendation.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Barclays raised their price target on shares of Weatherford from $22.00 to $26.00 in a research note to investors on Tuesday, December 17th. They now have an “overweight” rating on the stock. Separately, analysts at Robert W. Baird initiated coverage on shares of Weatherford in a research note to investors on Thursday, December 12th. They set a “neutral” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Weatherford from $19.00 to $20.50 in a research note to investors on Friday, November 15th. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Weatherford has a consensus rating of “Hold” and a consensus price target of $17.38.
Weatherford (NYSE:WFT) traded down 2.19% during mid-day trading on Thursday, hitting $15.15. 2,743,145 shares of the company’s stock traded hands. Weatherford has a 52-week low of $11.08 and a 52-week high of $17.38. The stock’s 50-day moving average is $15.57 and its 200-day moving average is $15.16. The company’s market cap is $11.656 billion.
Weatherford (NYSE:WFT) last released its earnings data on Tuesday, November 5th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.01. The company had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $4.10 billion. Weatherford’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that Weatherford will post $0.79 earnings per share for the current fiscal year.
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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