Weatherford International PLC (WFT) Expected to Announce Earnings of -$0.20 Per Share

Brokerages predict that Weatherford International PLC (NYSE:WFT) will report earnings of ($0.20) per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Weatherford International’s earnings, with estimates ranging from ($0.21) to ($0.19). Weatherford International reported earnings per share of ($0.32) during the same quarter last year, which indicates a positive year over year growth rate of 37.5%. The business is expected to report its next quarterly earnings results on Wednesday, February 7th.

On average, analysts expect that Weatherford International will report full year earnings of ($1.02) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($0.99). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.46) per share, with EPS estimates ranging from ($0.67) to ($0.20). Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Weatherford International.

Weatherford International (NYSE:WFT) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.02. Weatherford International had a negative return on equity of 67.44% and a negative net margin of 25.36%. The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned ($0.39) earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year.

WFT has been the topic of a number of research analyst reports. Seaport Global Securities upgraded Weatherford International from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $4.00 to $5.00 in a research note on Wednesday, November 1st. Scotiabank restated a “buy” rating on shares of Weatherford International in a research note on Tuesday, August 29th. Citigroup boosted their price target on Weatherford International from $5.30 to $5.60 and gave the stock a “buy” rating in a research note on Thursday, October 5th. BMO Capital Markets restated a “buy” rating and set a $5.50 price target on shares of Weatherford International in a research note on Friday, October 13th. Finally, Deutsche Bank initiated coverage on Weatherford International in a research note on Tuesday, October 10th. They set a “buy” rating and a $6.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $6.07.

In related news, VP Douglas M. Mills sold 17,500 shares of Weatherford International stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $4.43, for a total transaction of $77,525.00. Following the completion of the sale, the vice president now owns 279,125 shares of the company’s stock, valued at $1,236,523.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.16% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Balentine LLC lifted its holdings in Weatherford International by 68.5% in the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock valued at $168,000 after acquiring an additional 14,922 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Weatherford International by 40.6% in the third quarter. Cubist Systematic Strategies LLC now owns 447,470 shares of the oil and gas company’s stock valued at $2,049,000 after acquiring an additional 129,121 shares during the period. Janus Henderson Group PLC lifted its holdings in Weatherford International by 61.0% in the third quarter. Janus Henderson Group PLC now owns 191,986 shares of the oil and gas company’s stock valued at $880,000 after acquiring an additional 72,741 shares during the period. Boothbay Fund Management LLC lifted its holdings in Weatherford International by 450.0% in the third quarter. Boothbay Fund Management LLC now owns 54,998 shares of the oil and gas company’s stock valued at $252,000 after acquiring an additional 44,998 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in Weatherford International by 5,565.1% in the third quarter. Asset Management One Co. Ltd. now owns 1,389,998 shares of the oil and gas company’s stock valued at $6,366,000 after acquiring an additional 1,365,462 shares during the period.

Shares of Weatherford International (WFT) traded up $0.19 during mid-day trading on Friday, hitting $3.49. The stock had a trading volume of 28,445,703 shares, compared to its average volume of 23,838,868. Weatherford International has a 1-year low of $3.08 and a 1-year high of $7.09. The company has a debt-to-equity ratio of 5.44, a quick ratio of 1.33 and a current ratio of 2.04.

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