Weatherford International PLC (WFT) Expected to Post Quarterly Sales of $1.50 Billion
Equities research analysts forecast that Weatherford International PLC (NYSE:WFT) will post $1.50 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Weatherford International PLC’s earnings. The highest sales estimate is $1.53 billion and the lowest is $1.49 billion. Weatherford International PLC posted sales of $1.41 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 7th.
On average, analysts expect that Weatherford International PLC will report full-year sales of $1.50 billion for the current year, with estimates ranging from $5.70 billion to $5.75 billion. For the next year, analysts expect that the company will post sales of $6.12 billion per share, with estimates ranging from $5.38 billion to $6.97 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 posted its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.49 billion. Weatherford International PLC had a negative net margin of 25.36% and a negative return on equity of 67.44%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) EPS.
Several equities research analysts have commented on WFT shares. ValuEngine lowered shares of Weatherford International PLC from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Piper Jaffray Companies set a $6.00 price objective on shares of Weatherford International PLC and gave the company a “buy” rating in a research note on Saturday, July 29th. Cowen and Company set a $8.00 price target on shares of Weatherford International PLC and gave the stock a “buy” rating in a research note on Friday, October 6th. Deutsche Bank AG started coverage on shares of Weatherford International PLC in a research note on Tuesday, October 10th. They set a “buy” rating and a $6.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Weatherford International PLC from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $6.07.
Shares of Weatherford International PLC (WFT) opened at $3.39 on Friday. The company has a debt-to-equity ratio of 5.44, a current ratio of 2.04 and a quick ratio of 1.33. Weatherford International PLC has a one year low of $3.16 and a one year high of $7.09.
In other Weatherford International PLC news, VP Douglas M. Mills sold 17,500 shares of the firm’s stock in a transaction on Friday, September 15th. The shares were 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 approximately $1,236,523.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.16% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Weatherford International PLC by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 83,499,841 shares of the oil and gas company’s stock valued at $323,144,000 after purchasing an additional 1,203,292 shares during the period. Harris Associates L P lifted its holdings in shares of Weatherford International PLC by 2,166.3% during the 2nd quarter. Harris Associates L P now owns 61,075,275 shares of the oil and gas company’s stock worth $236,361,000 after acquiring an additional 58,380,345 shares during the last quarter. State Street Corp lifted its holdings in shares of Weatherford International PLC by 3.3% during the 2nd quarter. State Street Corp now owns 50,573,863 shares of the oil and gas company’s stock worth $195,718,000 after acquiring an additional 1,617,102 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Weatherford International PLC by 71.9% during the 2nd 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 acquiring an additional 12,194,205 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Weatherford International PLC by 12.5% during the 3rd quarter. Van ECK Associates Corp now owns 26,859,040 shares of the oil and gas company’s stock worth $123,014,000 after acquiring an additional 2,979,183 shares during the last quarter.
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Weatherford International PLC Company Profile
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