Weatherford International (NASDAQ:WFRD) Issues Earnings Results, Beats Expectations By $0.09 EPS

Weatherford International (NASDAQ:WFRD) announced its quarterly earnings data on Tuesday. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. Weatherford International had a net margin of 8.61% and a return on equity of 58.17%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year.

Weatherford International Stock Up 5.9 %

Shares of NASDAQ WFRD opened at $125.01 on Thursday. Weatherford International has a 52-week low of $55.81 and a 52-week high of $127.45. The firm has a fifty day moving average of $112.90 and a 200-day moving average of $100.33. The stock has a market capitalization of $9.04 billion, a PE ratio of 20.23, a P/E/G ratio of 0.94 and a beta of 0.73. The company has a quick ratio of 1.37, a current ratio of 1.79 and a debt-to-equity ratio of 1.86.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America lifted their price target on shares of Weatherford International from $123.00 to $135.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Raymond James raised their price objective on shares of Weatherford International from $134.00 to $152.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 16th. 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 price objective on shares of Weatherford International from $138.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Barclays started coverage on shares of Weatherford International in a research note on Wednesday, February 28th. They set an “overweight” rating and a $135.00 price objective for the company. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $131.00.

Insider Activity

In other news, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction on 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 completion of the sale, the chief accounting officer now directly owns 18,211 shares of the company’s stock, valued at approximately $1,785,406.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Benjamin Duster sold 12,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $96.98, for a total value of $1,163,760.00. Following the completion of the sale, the director now directly owns 12,801 shares in the company, valued at approximately $1,241,440.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the transaction, the chief accounting officer now owns 18,211 shares in the company, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock valued at $13,628,764 in the last ninety days. Company insiders own 2.20% of the company’s stock.

About Weatherford International

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.