Weatherford International (NASDAQ:WFRD) Issues Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Weatherford International (NASDAQ:WFRD) posted its earnings results on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.41, Briefing.com reports. Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis.

Weatherford International Stock Performance

Shares of WFRD stock opened at $86.59 on Wednesday. The stock has a market cap of $6.33 billion, a P/E ratio of 13.59, a P/E/G ratio of 0.87 and a beta of 0.58. The company has a fifty day moving average price of $95.47 and a two-hundred day moving average price of $110.88. Weatherford International has a one year low of $82.16 and a one year high of $135.00. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47.

Insider Activity

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WFRD has been the topic of several research analyst reports. Bank of America cut their price target on shares of Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Citigroup reduced their target price on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Benchmark reissued a “buy” rating and issued a $155.00 price target on shares of Weatherford International in a research note on Wednesday, July 24th. Raymond James decreased their price objective on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Finally, Barclays cut their target price on Weatherford International from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $146.88.

Weatherford International Company Profile

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.