Analysts Expect Weatherford International plc (WFT) to Post -$0.13 Earnings Per Share

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Wall Street brokerages predict that Weatherford International plc (NYSE:WFT) will announce ($0.13) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Weatherford International’s earnings. The highest EPS estimate is ($0.10) and the lowest is ($0.15). Weatherford International reported earnings of ($0.22) per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 40.9%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, October 29th.

According to Zacks, analysts expect that Weatherford International will report full year earnings of ($0.56) per share for the current financial year, with EPS estimates ranging from ($0.63) to ($0.48). For the next year, analysts anticipate that the firm will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.36) to $0.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Weatherford International.

Weatherford International (NYSE:WFT) last released its earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.28) EPS.

A number of research firms have weighed in on WFT. Zacks Investment Research downgraded shares of Weatherford International from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. BMO Capital Markets set a $4.00 target price on shares of Weatherford International and gave the company a “buy” rating in a research report on Wednesday, July 11th. Piper Jaffray Companies set a $2.00 target price on shares of Weatherford International and gave the company a “hold” rating in a research report on Sunday, July 29th. Jefferies Financial Group set a $4.00 price target on Weatherford International and gave the stock a “hold” rating in a report on Monday, July 30th. Finally, ValuEngine upgraded Weatherford International from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. Weatherford International currently has an average rating of “Buy” and a consensus target price of $4.28.

In related news, Director William E. Macaulay sold 767,591 shares of the stock in a transaction on Friday, August 24th. The stock was sold at an average price of $2.86, for a total value of $2,195,310.26. Following the transaction, the director now directly owns 399,443 shares in the company, valued at approximately $1,142,406.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Angela A. Minas bought 40,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was purchased at an average price of $2.45 per share, for a total transaction of $98,000.00. Following the completion of the acquisition, the director now owns 102,711 shares in the company, valued at $251,641.95. The disclosure for this purchase can be found here. 0.44% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of WFT. Scopia Capital Management LP lifted its holdings in shares of Weatherford International by 51.9% in the 1st quarter. Scopia Capital Management LP now owns 38,831,172 shares of the oil and gas company’s stock worth $88,923,000 after purchasing an additional 13,261,262 shares in the last quarter. FMR LLC lifted its holdings in shares of Weatherford International by 37.8% in the 2nd quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock worth $40,996,000 after purchasing an additional 3,415,343 shares in the last quarter. Sandia Holdings LLC lifted its holdings in shares of Weatherford International by 33.9% in the 2nd quarter. Sandia Holdings LLC now owns 2,728,262 shares of the oil and gas company’s stock worth $8,976,000 after purchasing an additional 690,954 shares in the last quarter. Luminus Management LLC bought a new position in shares of Weatherford International in the 2nd quarter worth $2,139,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Weatherford International by 157,275.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 635,796 shares of the oil and gas company’s stock worth $1,456,000 after purchasing an additional 635,392 shares in the last quarter.

NYSE:WFT remained flat at $$2.54 on Monday. 15,308,172 shares of the company’s stock were exchanged, compared to its average volume of 19,471,584. The firm has a market cap of $2.70 billion, a P/E ratio of -2.19 and a beta of 2.38. The company has a debt-to-equity ratio of -5.82, a current ratio of 1.68 and a quick ratio of 1.16. Weatherford International has a twelve month low of $2.07 and a twelve month high of $4.41.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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