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.
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.
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.
COPYRIGHT VIOLATION NOTICE: This report was posted by Ticker Report and is the property of of Ticker Report. If you are reading this report on another publication, it was illegally stolen and republished in violation of US and international trademark & copyright law. The original version of this report can be accessed at https://www.tickerreport.com/banking-finance/3342151/brokers-offer-predictions-for-weatherford-internationals-q2-2018-earnings-wft.html.
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.
Receive News & Ratings for Weatherford International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weatherford International and related companies with MarketBeat.com's FREE daily email newsletter.