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

Weatherford International (NASDAQ:WFRD) announced its earnings results on Tuesday. The company reported $2.06 EPS for the quarter, beating the consensus estimate of $1.65 by $0.41, Briefing.com reports. Weatherford International had a return on equity of 49.11% and a net margin of 9.65%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business posted $1.66 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.

Weatherford International Stock Performance

NASDAQ WFRD opened at $81.16 on Thursday. The company has a fifty day moving average price of $95.00 and a 200-day moving average price of $110.60. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47. Weatherford International has a 1 year low of $80.54 and a 1 year high of $135.00.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Citigroup decreased their target price on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Barclays lowered their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Bank of America dropped their target price on shares of 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 decreased their price target 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. Finally, Benchmark reissued a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Wednesday, July 24th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weatherford International presently has an average rating of “Buy” and a consensus target price of $146.88.

Insider Activity at Weatherford International

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by insiders.

Weatherford International Company Profile

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.