Weatherford International (WFRD) Scheduled to Post Earnings on Tuesday

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

Weatherford International (NASDAQ:WFRD) last released its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.48. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. Weatherford International had a net margin of 8.12% and a return on equity of 56.68%. Weatherford International’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. 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 Stock Performance

Weatherford International stock opened at $112.79 on Monday. The firm’s 50 day simple moving average is $111.58 and its 200-day simple moving average is $99.73. The company has a market cap of $8.16 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 0.89 and a beta of 0.73. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. Weatherford International has a fifty-two week low of $55.81 and a fifty-two week high of $127.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Raymond James raised their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 16th. Benchmark raised their price target on shares of Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 1st. TheStreet upgraded shares of Weatherford International from a “c” rating to a “b” rating in a research note on Monday, March 11th. Finally, Barclays initiated coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They issued an “overweight” rating and a $135.00 target price for the company. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $131.00.

Insider Transactions 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 transaction of $6,214,200.00. Following the transaction, the chief executive officer now owns 146,895 shares in the company, valued at approximately $15,213,915.15. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Weatherford International 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 transaction of $6,214,200.00. Following the transaction, the chief executive officer now directly owns 146,895 shares in the company, valued at approximately $15,213,915.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at $1,785,406.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,455 shares of company stock valued at $13,628,764. 2.20% of the stock is owned by insiders.

Institutional Trading of Weatherford International

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Weatherford International during the 1st quarter worth approximately $28,000. US Bancorp DE grew 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 acquiring an additional 423 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Weatherford International during the 4th quarter worth approximately $31,000. Geneos Wealth Management Inc. bought a new position in shares of Weatherford International during the 1st quarter worth approximately $25,000. Finally, Legal & General Group Plc grew its stake in shares of Weatherford International by 31.8% during the 3rd quarter. Legal & General Group Plc now owns 1,141 shares of the company’s stock worth $106,000 after acquiring an additional 275 shares in the last quarter. 97.23% of the stock is owned by institutional investors.

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.