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

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

Weatherford International Stock Down 3.3 %

Shares of WFRD opened at $81.16 on Thursday. The company has a market cap of $5.94 billion, a P/E ratio of 11.40, a P/E/G 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 one year low of $80.54 and a one year high of $135.00. The firm has a 50 day simple moving average of $95.00 and a two-hundred day simple moving average of $110.60.

Analysts Set New Price Targets

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

Insider Activity

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

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.