Weatherford International (NASDAQ:WFRD) Posts Earnings Results, Beats Expectations By $0.41 EPS

Weatherford International (NASDAQ:WFRD) announced its earnings results on Tuesday. The company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.41, Briefing.com reports. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a return on equity of 49.69% and a net margin of 9.19%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.66 earnings per share.

Weatherford International Stock Performance

Weatherford International stock opened at $86.59 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. The stock has a market cap of $6.33 billion, a PE ratio of 13.59, a P/E/G ratio of 0.87 and a beta of 0.58. Weatherford International has a 12-month low of $82.16 and a 12-month high of $135.00. The business’s 50-day moving average price is $95.47 and its two-hundred day moving average price is $110.88.

Insider Transactions at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WFRD. Bank of America lowered their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Raymond James dropped their price objective on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Benchmark restated a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research report on Wednesday, July 24th. Citigroup dropped their price target on shares of Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Barclays lowered their price objective on Weatherford International from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $146.88.

About Weatherford International

Weatherford International plc, an energy services company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil, geothermal, and natural gas wells worldwide. The company operates through three segments: Drilling and Evaluation; Well Construction and Completions; and Production and Intervention.