Capital One Financial Analysts Lift Earnings Estimates for Weatherford International Plc (WFT)

Weatherford International Plc (NYSE:WFT) – Investment analysts at Capital One Financial boosted their FY2018 earnings estimates for Weatherford International in a research note issued on Monday. Capital One Financial analyst L. Lemoine now anticipates that the oil and gas company will post earnings per share of ($0.40) for the year, up from their prior estimate of ($0.45). Capital One Financial also issued estimates for Weatherford International’s Q4 2018 earnings at ($0.05) EPS and FY2019 earnings at ($0.13) EPS.

A number of other equities analysts also recently issued reports on the company. Seaport Global Securities reissued a “buy” rating and set a $6.00 target price on shares of Weatherford International in a research note on Monday. Loop Capital set a $5.00 price objective on shares of Weatherford International and gave the stock a “buy” rating in a research report on Tuesday. Societe Generale upgraded shares of Weatherford International from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. BMO Capital Markets lowered their price target on shares of Weatherford International from $5.50 to $5.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Finally, Credit Suisse Group set a $6.00 price target on shares of Weatherford International and gave the company a “buy” rating in a report on Tuesday, January 2nd. Six analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Weatherford International currently has an average rating of “Hold” and a consensus target price of $5.59.

Weatherford International (WFT) traded down $0.27 during trading on Thursday, hitting $2.66. The stock had a trading volume of 18,755,512 shares, compared to its average volume of 25,268,135. Weatherford International has a fifty-two week low of $2.63 and a fifty-two week high of $7.09. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33. The stock has a market cap of $2,910.00, a P/E ratio of -1.66 and a beta of 2.07.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 75.02%. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the company posted ($0.32) EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis.

In related news, VP Douglas M. Mills sold 17,931 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $4.34, for a total value of $77,820.54. Following the completion of the sale, the vice president now directly owns 238,471 shares in the company, valued at $1,034,964.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Douglas M. Mills sold 6,072 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $4.24, for a total transaction of $25,745.28. Following the completion of the sale, the vice president now owns 232,399 shares of the company’s stock, valued at $985,371.76. The disclosure for this sale can be found here. Insiders sold 46,726 shares of company stock valued at $193,648 over the last quarter. 1.16% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Bank of Nova Scotia boosted its stake in shares of Weatherford International by 825.9% in the second quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock worth $1,281,000 after acquiring an additional 376,600 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Weatherford International in the 3rd quarter valued at $392,000. Timber Hill LLC purchased a new stake in shares of Weatherford International in the 3rd quarter valued at $280,000. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of Weatherford International by 35.9% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,589 shares of the oil and gas company’s stock valued at $1,890,000 after buying an additional 109,098 shares during the period. Finally, Precocity Capital LP raised its holdings in shares of Weatherford International by 47.1% in the 3rd quarter. Precocity Capital LP now owns 1,250,000 shares of the oil and gas company’s stock valued at $5,725,000 after buying an additional 400,000 shares during the period.

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About Weatherford International

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

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

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