Weatherford International Plc (NYSE:WFT) – Investment analysts at Jefferies Group decreased their Q1 2018 earnings per share (EPS) estimates for Weatherford International in a research report issued on Thursday. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings per share of ($0.20) for the quarter, down from their prior forecast of ($0.16). Jefferies Group currently has a “Underperform” rating and a $3.00 price target on the stock. Jefferies Group also issued estimates for Weatherford International’s Q2 2018 earnings at ($0.17) EPS, Q3 2018 earnings at ($0.14) EPS, Q4 2018 earnings at ($0.09) EPS, FY2018 earnings at ($0.60) EPS, FY2019 earnings at ($0.10) EPS and FY2020 earnings at $0.45 EPS.
A number of other brokerages also recently weighed in on WFT. Sanford C. Bernstein upgraded Weatherford International from a “market perform” rating to an “outperform” rating in a report on Friday, November 3rd. Cowen set a $8.00 target price on Weatherford International and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research lowered Weatherford International from a “hold” rating to a “sell” rating in a research report on Saturday. Royal Bank of Canada set a $6.00 target price on Weatherford International and gave the stock a “buy” rating in a research report on Sunday, October 8th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $5.50 target price on shares of Weatherford International in a research report on Friday, October 13th. Five equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.90.
Weatherford International (NYSE:WFT) last issued its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.22) earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the previous year, the business earned ($0.39) EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis.
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Weatherford International by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock worth $323,144,000 after purchasing an additional 1,203,292 shares during the last quarter. Harris Associates L P increased its position in Weatherford International by 2,166.3% in the 2nd quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock worth $236,361,000 after purchasing an additional 58,380,345 shares during the last quarter. State Street Corp increased its position in Weatherford International by 3.3% in the 2nd quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after purchasing an additional 1,617,102 shares during the last quarter. Van ECK Associates Corp increased its position in Weatherford International by 12.5% in the 3rd quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock worth $123,014,000 after purchasing an additional 2,979,183 shares during the last quarter. Finally, Thrivent Financial For Lutherans increased its position in Weatherford International by 30.3% in the 2nd quarter. Thrivent Financial For Lutherans now owns 13,347,035 shares of the oil and gas company’s stock worth $51,653,000 after purchasing an additional 3,103,335 shares during the last quarter.
In other Weatherford International news, VP Douglas M. Mills sold 7,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $3.75, for a total value of $28,125.00. Following the transaction, the vice president now directly owns 271,625 shares of the company’s stock, valued at approximately $1,018,593.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.16% of the stock is currently owned by insiders.
About Weatherford International
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