Weatherford International PLC (NYSE:WFT) released its earnings results on Wednesday. The oil and gas company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02, Briefing.com reports. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. Weatherford International PLC’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.39) EPS.
Several equities analysts have commented on WFT shares. Scotiabank reissued a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. Sanford C. Bernstein lowered shares of Weatherford International PLC from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $7.00 to $5.00 in a research report on Thursday, July 6th. ValuEngine lowered shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $5.00 price objective on shares of Weatherford International PLC and gave the company a “hold” rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research lowered shares of Weatherford International PLC from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Weatherford International PLC has a consensus rating of “Buy” and a consensus price target of $6.19.
In related news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was 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 directly owns 279,125 shares in the company, valued at approximately $1,236,523.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.16% of the stock is currently owned by insiders.
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