Brokers Offer Predictions for Weatherford International’s Q2 2018 Earnings (WFT)

Weatherford International (NYSE:WFT) – Equities research analysts at SunTrust Banks cut their Q2 2018 earnings per share estimates for Weatherford International in a research report issued to clients and investors on Wednesday, April 4th. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings of ($0.21) per share for the quarter, down from their prior forecast of ($0.18). SunTrust Banks also issued estimates for Weatherford International’s Q3 2018 earnings at ($0.16) EPS, Q4 2018 earnings at ($0.13) EPS, FY2018 earnings at ($0.75) EPS, Q1 2019 earnings at ($0.12) EPS, Q2 2019 earnings at ($0.09) EPS, Q3 2019 earnings at ($0.03) EPS and FY2019 earnings at ($0.24) EPS.

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

Several other equities research analysts also recently commented on the stock. Jefferies Group upgraded shares of Weatherford International from an “underperform” rating to a “hold” rating and set a $3.00 target price on the stock in a research note on Wednesday, April 4th. Piper Jaffray downgraded shares of Weatherford International from an “overweight” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Tuesday, April 3rd. Zacks Investment Research upgraded shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Friday, March 2nd. Barclays downgraded shares of Weatherford International from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $6.00 to $3.50 in a research note on Tuesday, February 13th. Finally, Credit Suisse Group reduced their target price on shares of Weatherford International from $5.50 to $4.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.03.

Shares of NYSE:WFT opened at $2.35 on Monday. Weatherford International has a 52 week low of $2.07 and a 52 week high of $6.61. The company has a debt-to-equity ratio of -13.21, a quick ratio of 1.19 and a current ratio of 1.74. The firm has a market capitalization of $2,335.00, a PE ratio of -2.03 and a beta of 2.34.

A number of large investors have recently made changes to their positions in WFT. The Manufacturers Life Insurance Company raised its holdings in Weatherford International by 8.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,310 shares of the oil and gas company’s stock worth $215,000 after purchasing an additional 4,497 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Weatherford International by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,516,743 shares of the oil and gas company’s stock worth $20,687,000 after purchasing an additional 94,485 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Weatherford International by 11.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 4,230,437 shares of the oil and gas company’s stock worth $19,376,000 after purchasing an additional 430,164 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Weatherford International by 10.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 188,828 shares of the oil and gas company’s stock worth $866,000 after purchasing an additional 18,221 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Weatherford International by 2.0% during the 3rd 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 purchasing an additional 14,200 shares during the last quarter.

In other Weatherford International news, VP Douglas M. Mills sold 17,931 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $4.34, for a total transaction of $77,820.54. Following the completion of the sale, the vice president now directly owns 238,471 shares of the company’s stock, valued at approximately $1,034,964.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Douglas M. Mills sold 6,072 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $985,371.76. The disclosure for this sale can be found here. Insiders sold 39,226 shares of company stock valued at $165,523 over the last ninety days. 0.44% of the stock is currently owned by company insiders.

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Weatherford International Company Profile

Weatherford International Plc provides equipment and services to the oil and natural gas exploration and production industry. It operates its business through the following business groups: Formation Evaluation & Well Construction, Completion & Production and Land Drilling Rigs. The Formation Evaluation & Well Construction business group offers services such as controlled-pressure drilling and testing, drilling, tubular running, drilling tools, integrated drilling, wireline services, re-entry and fishing, cementing, liner systems, integrated laboratory services and surface logging.

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

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