Weatherford International Plc (WFT) Expected to Announce Earnings of -$0.21 Per Share

Wall Street analysts expect that Weatherford International Plc (NYSE:WFT) will report earnings per share of ($0.21) for the current quarter, Zacks reports. Nine analysts have provided estimates for Weatherford International’s earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.14). Weatherford International posted earnings of ($0.32) per share in the same quarter last year, which indicates a positive year over year growth rate of 34.4%. The business is expected to issue its next earnings report before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Weatherford International will report full year earnings of ($0.61) per share for the current year, with EPS estimates ranging from ($0.79) to ($0.36). For the next year, analysts forecast that the business will report earnings of ($0.13) per share, with EPS estimates ranging from ($0.35) to $0.08. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Weatherford International.

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Weatherford International (NYSE:WFT) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.12). The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. Weatherford International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.32) EPS.

Several analysts have issued reports on the company. BMO Capital Markets restated a “hold” rating on shares of Weatherford International in a research note on Thursday, January 25th. Bank of America upgraded Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Tuesday, January 16th. Zacks Investment Research upgraded Weatherford International from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Gabelli restated a “buy” rating on shares of Weatherford International in a research note on Tuesday, January 2nd. Finally, ValuEngine lowered Weatherford International from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.29.

Shares of Weatherford International (WFT) opened at $2.62 on Friday. The company has a debt-to-equity ratio of -13.21, a current ratio of 1.74 and a quick ratio of 1.19. The stock has a market capitalization of $2,710.00, a P/E ratio of -0.92 and a beta of 2.30. Weatherford International has a 52 week low of $2.42 and a 52 week high of $6.86.

In related news, VP Douglas M. Mills sold 15,223 shares of the stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $4.07, for a total transaction of $61,957.61. Following the sale, the vice president now owns 256,402 shares of the company’s stock, valued at $1,043,556.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Douglas M. Mills sold 6,072 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $4.24, for a total value of $25,745.28. Following the sale, the vice president now directly owns 232,399 shares in the company, valued at approximately $985,371.76. The disclosure for this sale can be found here. Insiders have sold 46,726 shares of company stock worth $193,648 in the last three months. 1.16% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in Weatherford International by 8.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after buying an additional 4,497 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in Weatherford International by 2.0% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 717,700 shares of the oil and gas company’s stock worth $3,301,000 after buying an additional 14,200 shares in the last quarter. Balentine LLC grew its position in Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after buying an additional 14,922 shares in the last quarter. Phoenix Investment Adviser LLC grew its position in Weatherford International by 9.0% during the third quarter. Phoenix Investment Adviser LLC now owns 182,000 shares of the oil and gas company’s stock worth $834,000 after buying an additional 15,000 shares in the last quarter. Finally, Aperio Group LLC grew its position in Weatherford International by 10.8% during the fourth quarter. Aperio Group LLC now owns 169,133 shares of the oil and gas company’s stock worth $705,000 after buying an additional 16,437 shares in the last quarter.

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About Weatherford International

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

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