$1.35 Billion in Sales Expected for Weatherford International plc (WFT) This Quarter
Wall Street analysts expect Weatherford International plc (NYSE:WFT) to announce sales of $1.35 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Weatherford International’s earnings, with the lowest sales estimate coming in at $1.31 billion and the highest estimate coming in at $1.37 billion. Weatherford International reported sales of $1.42 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.9%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, May 8th.
On average, analysts expect that Weatherford International will report full year sales of $5.65 billion for the current fiscal year, with estimates ranging from $5.36 billion to $5.95 billion. For the next financial year, analysts anticipate that the company will post sales of $6.24 billion, with estimates ranging from $5.83 billion to $7.07 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Weatherford International.
Several research firms recently issued reports on WFT. Capital One Financial cut Weatherford International from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 16th. Zacks Investment Research raised Weatherford International from a “sell” rating to a “hold” rating in a research note on Monday, January 28th. Griffin Securities reissued a “buy” rating on shares of Weatherford International in a research note on Wednesday, February 27th. Finally, Credit Suisse Group reissued a “buy” rating and issued a $1.00 target price on shares of Weatherford International in a research note on Sunday, February 3rd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Weatherford International has a consensus rating of “Hold” and an average target price of $1.63.
Shares of NYSE WFT traded down $0.01 during trading hours on Monday, hitting $0.37. The company’s stock had a trading volume of 51,037,237 shares, compared to its average volume of 24,983,809. The stock has a market capitalization of $366.82 million, a PE ratio of -0.62 and a beta of 2.11. Weatherford International has a 12 month low of $0.22 and a 12 month high of $3.75.
About Weatherford International
Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.
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