Seaport Global Securities Comments on Weatherford International PLC’s Q3 2017 Earnings (WFT)

Weatherford International PLC (NYSE:WFT) – Analysts at Seaport Global Securities cut their Q3 2017 earnings per share (EPS) estimates for Weatherford International PLC in a note issued to investors on Thursday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will post earnings per share of ($0.26) for the quarter, down from their prior forecast of ($0.22). Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Weatherford International PLC’s Q4 2017 earnings at ($0.21) EPS, FY2017 earnings at ($1.07) EPS, Q1 2018 earnings at ($0.19) EPS, Q2 2018 earnings at ($0.18) EPS, Q3 2018 earnings at ($0.15) EPS, Q4 2018 earnings at ($0.12) EPS, FY2018 earnings at ($0.65) EPS, Q1 2019 earnings at ($0.11) EPS, Q2 2019 earnings at ($0.09) EPS and FY2019 earnings at ($0.20) EPS.

Weatherford International PLC (NYSE:WFT) last posted its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. The company’s revenue was down 2.8% on a year-over-year basis.

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Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price objective on shares of Weatherford International PLC from $4.75 to $5.50 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Scotiabank set a $6.00 price objective on shares of Weatherford International PLC and gave the stock a “hold” rating in a research report on Friday, July 7th. Cowen and Company set a $8.00 price objective on shares of Weatherford International PLC and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research raised shares of Weatherford International PLC from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub raised shares of Weatherford International PLC from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Weatherford International PLC has a consensus rating of “Buy” and an average target price of $6.18.

Shares of Weatherford International PLC (NYSE:WFT) opened at 4.09 on Monday. The stock’s 50 day moving average is $4.17 and its 200 day moving average is $4.66. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09. The company’s market cap is $4.05 billion.

In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $4.43, for a total value of $77,525.00. Following the completion of the transaction, the vice president now owns 279,125 shares of the company’s stock, valued at approximately $1,236,523.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.16% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Laurion Capital Management LP purchased a new position in Weatherford International PLC in the 1st quarter valued at approximately $109,000. Two Sigma Securities LLC boosted its position in Weatherford International PLC by 14.5% in the 1st quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 2,238 shares during the period. Driehaus Capital Management LLC purchased a new position in Weatherford International PLC in the 1st quarter valued at approximately $129,000. US Bancorp DE boosted its position in Weatherford International PLC by 181.1% in the 1st quarter. US Bancorp DE now owns 25,523 shares of the oil and gas company’s stock valued at $170,000 after buying an additional 16,444 shares during the period. Finally, Fore Research & Management LP purchased a new position in Weatherford International PLC in the 1st quarter valued at approximately $199,000.

Weatherford International PLC Company Profile

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

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

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