Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD) announced its 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. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.66 EPS.

Weatherford International Stock Down 0.9 %

Shares of WFRD stock opened at $83.97 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. Weatherford International has a one year low of $82.16 and a one year high of $135.00. The company’s fifty day moving average price is $95.47 and its 200-day moving average price is $110.88. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 0.87 and a beta of 0.58.

Analysts Set New Price Targets

WFRD has been the subject of a number of research reports. Bank of America reduced their price objective 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 objective on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Wednesday, July 24th. Raymond James reduced their target price 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. Finally, Barclays dropped their price target 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. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $146.88.

Insider Buying and Selling

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

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.