Weatherford International (NASDAQ:WFRD) Issues Earnings Results, Beats Expectations By $0.09 EPS

Weatherford International (NASDAQ:WFRD) released its quarterly earnings results on Tuesday. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.41 by $0.09, Briefing.com reports. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.97 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis.

Weatherford International Trading Up 5.5 %

Shares of WFRD stock traded up $6.55 on Wednesday, hitting $124.64. The stock had a trading volume of 366,560 shares, compared to its average volume of 813,334. The company’s 50 day moving average price is $112.35 and its 200-day moving average price is $100.16. Weatherford International has a 1 year low of $55.81 and a 1 year high of $127.45. The firm has a market capitalization of $9.01 billion, a P/E ratio of 21.94, a P/E/G ratio of 0.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37.

Wall Street Analyst Weigh In

WFRD has been the subject of several recent analyst reports. Barclays began coverage on Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price target for the company. Benchmark upped their target price on Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James lifted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 16th. Piper Sandler upped their price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $131.00.

Insiders Place Their Bets

In other news, Director Benjamin Duster sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the transaction, the director now owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares of the company’s stock, valued at $1,241,440.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now owns 146,895 shares of the company’s stock, valued at approximately $15,213,915.15. The disclosure for this sale can be found here. Insiders have sold 135,455 shares of company stock worth $13,628,764 over the last three months. Company insiders own 2.20% of the company’s stock.

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.