Weatherford International PLC (NYSE:WFT) - Research analysts at Griffin Securities issued their FY2019 earnings per share (EPS) estimates for shares of Weatherford International PLC in a report released on Wednesday. Griffin Securities analyst K. Simpson forecasts that the oil and gas company will earn $0.13 per share for the year.
Weatherford International PLC (NYSE:WFT) last posted its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.28). Weatherford International PLC had a negative return on equity of 65.33% and a negative net margin of 53.49%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the prior year, the business earned ($0.28) EPS. Weatherford International PLC’s revenue for the quarter was down 2.8% compared to the same quarter last year.
WFT has been the subject of several other research reports. BidaskClub downgraded Weatherford International PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. Morgan Stanley decreased their price target on Weatherford International PLC from $6.00 to $5.50 and set an “overweight” rating for the company in a report on Monday, August 7th. BMO Capital Markets upped their price target on Weatherford International PLC from $4.75 to $5.50 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded Weatherford International PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Scotiabank set a $6.00 price target on Weatherford International PLC and gave the stock a “hold” rating in a report on Tuesday, August 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $6.39.
Shares of Weatherford International PLC (WFT) opened at 4.01 on Friday. The company’s market capitalization is $3.97 billion. The company’s 50-day moving average price is $4.12 and its 200-day moving average price is $5.14. Weatherford International PLC has a 1-year low of $3.39 and a 1-year high of $7.09.
Hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale boosted its position in shares of Weatherford International PLC by 58.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 101,807 shares of the oil and gas company’s stock worth $693,000 after buying an additional 37,643 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Weatherford International PLC by 15.9% in the first quarter. Teachers Advisors LLC now owns 10,031,765 shares of the oil and gas company’s stock worth $66,711,000 after buying an additional 1,372,563 shares in the last quarter. Korea Investment CORP purchased a new position in shares of Weatherford International PLC during the first quarter worth approximately $6,015,000. Cipher Capital LP purchased a new position in shares of Weatherford International PLC during the first quarter worth approximately $1,310,000. Finally, Omega Advisors Inc. purchased a new position in shares of Weatherford International PLC during the first quarter worth approximately $2,660,000.
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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