Weatherford International Plc (WFT) Expected to Announce Quarterly Sales of $1.46 Billion

Analysts expect Weatherford International Plc (NYSE:WFT) to report $1.46 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Weatherford International’s earnings, with the lowest sales estimate coming in at $1.37 billion and the highest estimate coming in at $1.53 billion. Weatherford International posted sales of $1.39 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The business is scheduled to announce its next earnings report on Friday, April 27th.

On average, analysts expect that Weatherford International will report full-year sales of $1.46 billion for the current year, with estimates ranging from $5.61 billion to $6.50 billion. For the next fiscal year, analysts anticipate that the company will post sales of $6.65 billion per share, with estimates ranging from $5.53 billion to $7.08 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Weatherford International.

Weatherford International (NYSE:WFT) last posted its earnings results on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted ($0.32) EPS. Weatherford International’s quarterly revenue was up 6.0% compared to the same quarter last year.

WFT has been the subject of a number of recent research reports. Sanford C. Bernstein upgraded Weatherford International from a “market perform” rating to an “outperform” rating in a research note on Friday, November 3rd. Bank of America upgraded Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, January 16th. Zacks Investment Research lowered Weatherford International from a “hold” rating to a “sell” rating in a research note on Sunday, January 21st. Tudor Pickering lowered Weatherford International from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Finally, BMO Capital Markets restated a “hold” rating on shares of Weatherford International in a research note on Thursday, January 25th. Six research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.59.

Shares of Weatherford International (NYSE WFT) opened at $2.89 on Monday. The company has a quick ratio of 1.33, a current ratio of 2.04 and a debt-to-equity ratio of 5.44. Weatherford International has a 12 month low of $2.63 and a 12 month high of $7.09. The stock has a market capitalization of $2,870.00, a PE ratio of -1.74 and a beta of 2.07.

In related news, VP Douglas M. Mills sold 6,072 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $4.24, for a total value of $25,745.28. Following the sale, the vice president now owns 232,399 shares of the company’s stock, valued at approximately $985,371.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Douglas M. Mills sold 17,931 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was 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 approximately $1,034,964.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,726 shares of company stock worth $193,648. 1.16% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WFT. Dimensional Fund Advisors LP lifted its holdings in shares of Weatherford International by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,121,453 shares of the oil and gas company’s stock worth $27,560,000 after purchasing an additional 1,065,721 shares during the last quarter. State Street Corp lifted its holdings in shares of Weatherford International by 3.3% in the 2nd quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after purchasing an additional 1,617,102 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Weatherford International by 8.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 4,497 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Weatherford International by 67.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 112,519 shares of the oil and gas company’s stock worth $435,000 after purchasing an additional 45,330 shares during the last quarter. Finally, Bank of Nova Scotia lifted its holdings in shares of Weatherford International by 825.9% in the 2nd quarter. Bank of Nova Scotia now owns 331,000 shares of the oil and gas company’s stock worth $1,281,000 after purchasing an additional 376,600 shares during the last quarter.

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Weatherford International Company Profile

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.

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

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