Weatherford International PLC to Post FY2020 Earnings of $1.00 Per Share, Jefferies Group Forecasts (WFT)
Weatherford International PLC (NYSE:WFT) – Research analysts at Jefferies Group raised their FY2020 EPS estimates for shares of Weatherford International PLC in a research report issued to clients and investors on Monday. Jefferies Group analyst B. Handler now expects that the oil and gas company will earn $1.00 per share for the year, up from their previous estimate of $0.85. Jefferies Group has a “Hold” rating and a $6.00 price target on the stock.
Weatherford International PLC (NYSE:WFT) last released its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, meeting 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 net margin of 53.49% and a negative return on equity of 61.15%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.28) EPS. ILLEGAL ACTIVITY WARNING: “Weatherford International PLC to Post FY2020 Earnings of $1.00 Per Share, Jefferies Group Forecasts (WFT)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another website, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The original version of this piece of content can be read at https://www.thecerbatgem.com/2017/08/03/weatherford-international-plc-to-post-fy2020-earnings-of-1-00-per-share-jefferies-group-forecasts-wft.html.
A number of other equities analysts have also recently weighed in on WFT. Zacks Investment Research raised Weatherford International PLC from a “sell” rating to a “hold” rating in a research note on Thursday, April 6th. Goldman Sachs Group, Inc. (The) cut Weatherford International PLC from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $6.33 to $7.00 in a research note on Wednesday, April 12th. Scotiabank set a $6.00 price target on Weatherford International PLC and gave the stock a “hold” rating in a research note on Monday, May 1st. BMO Capital Markets reissued a “buy” rating and issued a $7.00 price target on shares of Weatherford International PLC in a research note on Tuesday, May 2nd. Finally, UBS AG reissued a “buy” rating and issued a $8.00 price target (down previously from $9.00) on shares of Weatherford International PLC in a research note on Tuesday, May 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $6.54.
Weatherford International PLC (WFT) traded down 1.79% on Tuesday, reaching $4.40. 18,323,763 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $4.08 and its 200 day moving average is $5.26. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09. The stock’s market capitalization is $4.34 billion.
In related news, VP Douglas M. Mills sold 17,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.19, for a total value of $90,825.00. Following the completion of the sale, the vice president now directly owns 296,625 shares in the company, valued at approximately $1,539,483.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wedge Capital Management L L P NC raised its position in shares of Weatherford International PLC by 71.9% in the second quarter. Wedge Capital Management L L P NC now owns 29,156,413 shares of the oil and gas company’s stock worth $112,835,000 after buying an additional 12,194,205 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of Weatherford International PLC during the first quarter worth approximately $46,680,000. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Weatherford International PLC during the first quarter worth approximately $45,594,000. Renaissance Technologies LLC acquired a new position in shares of Weatherford International PLC during the first quarter worth approximately $42,887,000. Finally, Norges Bank acquired a new position in shares of Weatherford International PLC during the fourth quarter worth approximately $26,548,000.
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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