Weatherford International (WFRD) to Release Earnings on Tuesday

Weatherford International (NASDAQ:WFRD) is scheduled to be releasing its earnings data after the market closes on Tuesday, April 23rd. Analysts expect Weatherford International to post earnings of $1.41 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Weatherford International (NASDAQ:WFRD) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. 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 the consensus estimate of $1.34 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, analysts expect Weatherford International to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Weatherford International Price Performance

NASDAQ WFRD opened at $115.56 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86. Weatherford International has a 12-month low of $55.81 and a 12-month high of $127.45. The company has a market capitalization of $8.36 billion, a PE ratio of 20.45 and a beta of 0.73. The firm’s 50 day moving average is $110.16 and its 200-day moving average is $99.09.

Insider Activity at Weatherford International

In related news, CEO Girish Saligram sold 60,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total value of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Benjamin Duster sold 12,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $97.58, for a total value of $1,170,960.00. Following the transaction, the director now directly owns 24,801 shares in the company, valued at $2,420,081.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Girish Saligram sold 60,000 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the completion of the transaction, the chief executive officer now owns 146,895 shares in the company, valued at $15,213,915.15. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,455 shares of company stock worth $13,628,764. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Weatherford International in the first quarter valued at about $28,000. US Bancorp DE raised its stake in shares of Weatherford International by 343.9% during the 2nd quarter. US Bancorp DE now owns 546 shares of the company’s stock worth $36,000 after purchasing an additional 423 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Weatherford International in the 4th quarter worth about $31,000. Geneos Wealth Management Inc. bought a new stake in shares of Weatherford International in the first quarter worth approximately $25,000. Finally, Legal & General Group Plc lifted its position in shares of Weatherford International by 31.8% during the third quarter. Legal & General Group Plc now owns 1,141 shares of the company’s stock valued at $106,000 after buying an additional 275 shares during the last quarter. 97.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on WFRD. Benchmark lifted their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the company a “buy” rating in a report on Monday, April 1st. TheStreet raised shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Piper Sandler raised their target price on shares of Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Bank of America lifted their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays initiated coverage on shares of Weatherford International in a report on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 price objective on the stock. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $128.22.

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.