-$0.13 EPS Expected for Weatherford International plc (WFT) This Quarter

Brokerages predict that Weatherford International plc (NYSE:WFT) will announce earnings per share (EPS) of ($0.13) for the current quarter, Zacks reports. Nine analysts have made estimates for Weatherford International’s earnings, with estimates ranging from ($0.15) to ($0.10). Weatherford International reported earnings per share of ($0.22) in the same quarter last year, which suggests a positive year-over-year growth rate of 40.9%. The firm is expected to announce its next earnings report before the market opens on Monday, October 29th.

According to Zacks, analysts expect that Weatherford International will report full year earnings of ($0.56) per share for the current fiscal year, with EPS estimates ranging from ($0.63) to ($0.48). For the next year, analysts anticipate that the business will post earnings of ($0.12) per share, with EPS estimates ranging from ($0.36) to $0.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Weatherford International.

Weatherford International (NYSE:WFT) last released its quarterly earnings results on Friday, July 27th. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.02. Weatherford International had a negative net margin of 46.44% and a negative return on equity of 283.53%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis.

Several equities research analysts recently issued reports on WFT shares. Morgan Stanley started coverage on shares of Weatherford International in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $4.00 price target on the stock. Tudor Pickering raised shares of Weatherford International from a “sell” rating to a “buy” rating in a research note on Monday, August 20th. Stifel Nicolaus started coverage on shares of Weatherford International in a research note on Monday, September 10th. They set a “hold” rating and a $3.00 price target on the stock. Jefferies Financial Group set a $4.00 price target on shares of Weatherford International and gave the stock a “hold” rating in a research note on Monday, July 30th. Finally, Piper Jaffray Companies set a $2.00 price target on shares of Weatherford International and gave the stock a “hold” rating in a research note on Sunday, July 29th. Nine research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $4.42.

In other news, Director William E. Macaulay sold 767,591 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $2.86, for a total value of $2,195,310.26. Following the completion of the sale, the director now owns 399,443 shares of the company’s stock, valued at approximately $1,142,406.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Angela A. Minas bought 40,000 shares of the company’s stock in a transaction dated Monday, September 17th. The stock was bought at an average cost of $2.45 per share, with a total value of $98,000.00. Following the transaction, the director now directly 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 insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fondren Management LP bought a new stake in shares of Weatherford International in the 2nd quarter worth about $263,000. Royal London Asset Management Ltd. acquired a new position in shares of Weatherford International in the 2nd quarter valued at about $1,088,000. Northern Trust Corp boosted its holdings in shares of Weatherford International by 4.5% in the 2nd quarter. Northern Trust Corp now owns 5,034,119 shares of the oil and gas company’s stock valued at $16,563,000 after buying an additional 217,002 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Weatherford International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,245,369 shares of the oil and gas company’s stock valued at $13,967,000 after buying an additional 89,037 shares during the period. Finally, Luminus Management LLC acquired a new position in shares of Weatherford International in the 2nd quarter valued at about $2,139,000.

Weatherford International stock opened at $2.60 on Monday. Weatherford International has a 12-month low of $2.07 and a 12-month high of $4.41. The firm has a market cap of $2.70 billion, a P/E ratio of -2.34 and a beta of 2.38. The company has a current ratio of 1.68, a quick ratio of 1.16 and a debt-to-equity ratio of -5.82.

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.

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