Analysts Expect Weatherford International PLC (WFT) Will Post Quarterly Sales of $1.49 Billion
Equities research analysts expect Weatherford International PLC (NYSE:WFT) to post $1.49 billion in sales for the current quarter, according to Zacks. Seven analysts have provided estimates for Weatherford International PLC’s earnings, with the highest sales estimate coming in at $1.52 billion and the lowest estimate coming in at $1.46 billion. Weatherford International PLC posted sales of $1.36 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.6%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Weatherford International PLC will report full-year sales of $1.49 billion for the current year, with estimates ranging from $5.73 billion to $5.86 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.37 billion per share, with estimates ranging from $5.79 billion to $7.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Weatherford International PLC.
Weatherford International PLC (NYSE:WFT) last released its quarterly earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.28). The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.46 billion. Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. Weatherford International PLC’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.28) earnings per share.
WFT has been the topic of a number of research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $6.00 price target (down from $12.00) on shares of Weatherford International PLC in a research note on Wednesday, June 21st. Seaport Global Securities reaffirmed a “neutral” rating on shares of Weatherford International PLC in a research note on Friday, July 28th. ValuEngine downgraded Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Sanford C. Bernstein downgraded Weatherford International PLC from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $7.00 to $5.00 in a research note on Thursday, July 6th. Finally, Scotiabank reaffirmed a “buy” rating on shares of Weatherford International PLC in a research note on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Weatherford International PLC currently has an average rating of “Buy” and an average price target of $6.39.
Weatherford International PLC (NYSE WFT) traded down 2.17% during midday trading on Wednesday, hitting $4.05. The stock had a trading volume of 8,071,555 shares. Weatherford International PLC has a 52 week low of $3.39 and a 52 week high of $7.09. The stock’s market capitalization is $4.01 billion. The company’s 50 day moving average price is $4.09 and its 200-day moving average price is $4.87.
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In other news, VP Douglas M. Mills sold 17,500 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $4.43, for a total value of $77,525.00. Following the completion of the transaction, the vice president now directly owns 279,125 shares of the company’s stock, valued at $1,236,523.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Laurion Capital Management LP bought a new position in Weatherford International PLC during the first quarter valued at $109,000. Two Sigma Securities LLC grew its holdings in Weatherford International PLC by 14.5% during the first quarter. Two Sigma Securities LLC now owns 17,643 shares of the oil and gas company’s stock valued at $117,000 after purchasing an additional 2,238 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in Weatherford International PLC by 1.5% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 33,000 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 500 shares during the period. Verity Asset Management Inc. bought a new position in Weatherford International PLC during the first quarter valued at $129,000. Finally, Driehaus Capital Management LLC bought a new position in Weatherford International PLC during the first quarter valued at $129,000.
About Weatherford International PLC
Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.
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