Weatherford International (NASDAQ:WFRD) Issues Earnings Results

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

Weatherford International Stock Performance

NASDAQ WFRD opened at $86.59 on Wednesday. The company has a market cap of $6.33 billion, a P/E ratio of 14.01, a P/E/G ratio of 0.87 and a beta of 0.58. Weatherford International has a 1-year low of $82.16 and a 1-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. The stock has a 50-day moving average of $95.47 and a two-hundred day moving average of $110.88.

Insider Activity at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About Weatherford International

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.