Weatherford International Plc Expected to Earn FY2019 Earnings of ($0.71) Per Share (WFT)

Weatherford International Plc (NYSE:WFT) – Investment analysts at Capital One Financial lowered their FY2019 EPS estimates for Weatherford International in a research note issued on Wednesday. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will post earnings of ($0.71) per share for the year, down from their previous forecast of ($0.18).

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. Weatherford International had a negative net margin of 25.36% and a negative return on equity of 67.44%. The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned ($0.39) earnings per share. Weatherford International’s quarterly revenue was up 7.1% compared to the same quarter last year.

WFT has been the subject of several other research reports. Citigroup increased their price objective on shares of Weatherford International from $5.30 to $5.60 and gave the company a “buy” rating in a research report on Thursday, October 5th. Seaport Global Securities upgraded shares of Weatherford International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.00 to $5.00 in a research report on Wednesday, November 1st. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. BMO Capital Markets reduced their target price on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Deutsche Bank started coverage on shares of Weatherford International in a research note on Tuesday, October 10th. They issued a “buy” rating and a $6.00 target price on the stock. Four analysts have rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Weatherford International presently has an average rating of “Buy” and a consensus target price of $5.94.

Weatherford International (NYSE WFT) traded up $0.19 during mid-day trading on Friday, reaching $3.88. 24,465,714 shares of the company’s stock traded hands, compared to its average volume of 23,480,000. Weatherford International has a fifty-two week low of $3.08 and a fifty-two week high of $7.09. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. The company has a market capitalization of $3,660.00, a price-to-earnings ratio of -2.71 and a beta of 2.32.

A number of hedge funds have recently bought and sold shares of WFT. Schwab Charles Investment Management Inc. increased its stake in Weatherford International by 0.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,800,273 shares of the oil and gas company’s stock worth $14,708,000 after buying an additional 10,661 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Weatherford International by 17.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 1,255,585 shares of the oil and gas company’s stock worth $4,859,000 after buying an additional 182,530 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Weatherford International by 12.6% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 303,491 shares of the oil and gas company’s stock worth $1,175,000 after buying an additional 34,034 shares during the period. Neuberger Berman Group LLC increased its stake in Weatherford International by 3.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 332,703 shares of the oil and gas company’s stock worth $1,288,000 after buying an additional 9,941 shares during the period. Finally, Swiss National Bank increased its stake in Weatherford International by 3.0% in the 2nd quarter. Swiss National Bank now owns 3,403,646 shares of the oil and gas company’s stock worth $13,172,000 after buying an additional 98,800 shares during the period.

In related news, VP Douglas M. Mills sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now owns 271,625 shares of the company’s stock, valued at approximately $1,018,593.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.16% of the company’s stock.

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About Weatherford International

Earnings History and Estimates for Weatherford International (NYSE:WFT)

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