$1.44 Billion in Sales Expected for Weatherford International plc (WFT) This Quarter

Analysts predict that Weatherford International plc (NYSE:WFT) will post $1.44 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Weatherford International’s earnings, with estimates ranging from $1.42 billion to $1.47 billion. Weatherford International posted sales of $1.49 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.4%. The company is expected to report its next earnings results on Friday, February 1st.

According to Zacks, analysts expect that Weatherford International will report full-year sales of $5.75 billion for the current year, with estimates ranging from $5.70 billion to $5.79 billion. For the next financial year, analysts expect that the firm will post sales of $5.92 billion, with estimates ranging from $5.70 billion to $6.44 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Weatherford International.

Weatherford International (NYSE:WFT) last posted its earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.03. Weatherford International had a negative net margin of 45.58% and a negative return on equity of 283.53%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the company posted ($0.22) EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year.

A number of brokerages recently issued reports on WFT. Citigroup cut shares of Weatherford International from a “neutral” rating to a “sell” rating and lowered their price target for the company from $3.50 to $1.00 in a research report on Tuesday, October 30th. Bank of America began coverage on shares of Weatherford International in a research report on Wednesday, October 17th. They set an “underperform” rating for the company. Societe Generale cut shares of Weatherford International from a “buy” rating to a “sell” rating and set a $2.00 price target for the company. in a research report on Friday, October 12th. Morgan Stanley began coverage on shares of Weatherford International in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $4.00 price target for the company. Finally, Zacks Investment Research cut shares of Weatherford International from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. Weatherford International has an average rating of “Hold” and a consensus target price of $3.50.

Shares of NYSE:WFT traded down $0.08 on Friday, hitting $1.13. The company had a trading volume of 43,057,946 shares, compared to its average volume of 26,774,476. Weatherford International has a 1 year low of $1.09 and a 1 year high of $4.41. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -0.97 and a beta of 2.84.

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

A number of large investors have recently added to or reduced their stakes in WFT. FMR LLC increased its stake in Weatherford International by 37.8% during the 2nd quarter. FMR LLC now owns 12,460,897 shares of the oil and gas company’s stock valued at $40,996,000 after purchasing an additional 3,415,343 shares in the last quarter. Poplar Forest Capital LLC increased its stake in Weatherford International by 38.7% during the 3rd quarter. Poplar Forest Capital LLC now owns 9,733,959 shares of the oil and gas company’s stock valued at $26,379,000 after purchasing an additional 2,713,638 shares in the last quarter. Perella Weinberg Partners Capital Management LP increased its stake in Weatherford International by 8.6% during the 3rd quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock valued at $63,021,000 after purchasing an additional 1,835,110 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in Weatherford International by 5.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 34,487,196 shares of the oil and gas company’s stock valued at $93,460,000 after purchasing an additional 1,829,806 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. increased its stake in Weatherford International by 1,191.7% during the 3rd quarter. Prescott Group Capital Management L.L.C. now owns 1,860,000 shares of the oil and gas company’s stock valued at $5,041,000 after purchasing an additional 1,716,000 shares in the last quarter.

About Weatherford International

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.

Recommended Story: Risk Tolerance and Your Investment Decisions

Get a free copy of the Zacks research report on Weatherford International (WFT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.

Leave a Reply