Weatherford International (NASDAQ:WFRD) Posts Earnings Results, Beats Expectations By $0.09 EPS

Weatherford International (NASDAQ:WFRD) announced its quarterly earnings data on Tuesday. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business’s revenue was up 14.5% compared to the same quarter last year.

Weatherford International Trading Up 6.2 %

Weatherford International stock traded up $7.31 during trading hours on Wednesday, hitting $125.40. The stock had a trading volume of 526,948 shares, compared to its average volume of 815,399. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 22.19, a P/E/G ratio of 0.91 and a beta of 0.73. Weatherford International has a one year low of $55.81 and a one year high of $127.45. The business’s 50 day simple moving average is $112.35 and its 200-day simple moving average is $100.16.

Insider Buying and Selling at Weatherford International

In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 135,455 shares of company stock worth $13,628,764. 2.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on WFRD. Bank of America upped their price objective on Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a report on Monday, April 15th. Raymond James upped their target price on Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 16th. Piper Sandler upped their target price on Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Benchmark upped their target price on Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Barclays assumed coverage on Weatherford International in a research report on Wednesday, February 28th. They set an “overweight” rating and a $135.00 target price for the company. Seven 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 data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $131.00.

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.