Weatherford International Plc Stock Rating Reaffirmed by Zacks (WFT)
Weatherford International Plc (NYSE:WFT)‘s stock had its “outperform” rating reiterated by Zacks in a report issued on Friday. They currently have a $27.00 price target on the stock. Zacks‘s price objective points to a potential upside of 22.34% from the company’s current price.
Zacks’ analyst wrote, “Weatherford International reported mixed second-quarter results with earnings beating the Zacks Consensus Estimate but revenues missing the year-ago number. Going forward 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 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. Thus, we maintain our Outperform recommendation with a price target of $27.00.”
Shares of Weatherford International Plc (NYSE:WFT) opened at 22.07 on Friday. Weatherford International Plc has a 52-week low of $13.07 and a 52-week high of $24.88. The stock’s 50-day moving average is $22.77 and its 200-day moving average is $18.98. The company’s market cap is $17.069 billion.
Weatherford International Plc (NYSE:WFT) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.03. During the same quarter last year, the company posted $0.15 earnings per share. On average, analysts predict that Weatherford International Plc will post $1.15 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on WFT. Analysts at Global Hunter Securities raised their price target on shares of Weatherford International Plc to $29.00 in a research note on Monday, July 28th. Separately, analysts at Cowen and Company raised their price target on shares of Weatherford International Plc from $28.00 to $32.00 in a research note on Friday, July 25th. They now have an “outperform” rating on the stock. Finally, analysts at Goldman Sachs raised their price target on shares of Weatherford International Plc from $20.50 to $23.00 in a research note on Thursday, July 10th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Weatherford International Plc presently has an average rating of “Hold” and a consensus price target of $23.16.
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.
To view Zacks’ full report, visit Zacks’ official website.
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