Weatherford International Plc to Post FY2017 Earnings of ($1.06) Per Share, Seaport Global Securities Forecasts (WFT)

Weatherford International Plc (NYSE:WFT) – Stock analysts at Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for Weatherford International in a report released on Tuesday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will post earnings of ($1.06) per share for the year, down from their prior forecast of ($1.04). Seaport Global Securities currently has a “Buy” rating and a $5.00 target price on the stock. Seaport Global Securities also issued estimates for Weatherford International’s Q4 2017 earnings at ($0.23) EPS.

Weatherford International (NYSE:WFT) last posted its earnings results 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. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.39) earnings per share.

Several other research firms have also commented on WFT. Jefferies Group set a $5.00 target price on Weatherford International and gave the company a “hold” rating in a report on Thursday, October 5th. Citigroup increased their price objective on Weatherford International from $5.30 to $5.60 and gave the stock a “buy” rating in a report on Thursday, October 5th. Royal Bank of Canada set a $6.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Sunday, October 8th. Cowen set a $8.00 price objective on Weatherford International and gave the stock a “buy” rating in a report on Friday, October 6th. Finally, Deutsche Bank assumed coverage on Weatherford International in a report on Tuesday, October 10th. They issued a “buy” rating and a $6.00 price objective for the company. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $5.94.

Weatherford International (NYSE:WFT) opened at $3.87 on Thursday. The company has a market capitalization of $3,660.00, a P/E ratio of -2.71 and a beta of 2.32. Weatherford International has a fifty-two week low of $3.08 and a fifty-two week high of $7.09. The company has a current ratio of 2.04, a quick ratio of 1.33 and a debt-to-equity ratio of 5.44.

Several large investors have recently made changes to their positions in the company. Balentine LLC lifted its position in shares of Weatherford International by 68.5% during the 3rd quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Weatherford International by 40.6% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 447,470 shares of the oil and gas company’s stock valued at $2,049,000 after acquiring an additional 129,121 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Weatherford International by 61.0% during the 3rd quarter. Janus Henderson Group PLC now owns 191,986 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 72,741 shares during the last quarter. Boothbay Fund Management LLC lifted its position in shares of Weatherford International by 450.0% during the 3rd quarter. Boothbay Fund Management LLC now owns 54,998 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 44,998 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Weatherford International by 5,565.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,389,998 shares of the oil and gas company’s stock valued at $6,366,000 after acquiring an additional 1,365,462 shares during the last quarter.

In other news, VP Douglas M. Mills sold 7,500 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total transaction of $28,125.00. Following the completion of the sale, the vice president now owns 271,625 shares in the company, valued at approximately $1,018,593.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.16% of the stock is currently owned by corporate insiders.

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About Weatherford International

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

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