Weatherford International (NASDAQ:WFRD) Issues Earnings Results

Weatherford International (NASDAQ:WFRD - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41, Briefing.com reports. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. Weatherford International's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 earnings per share.

Weatherford International Trading Down 3.3 %

Shares of NASDAQ:WFRD traded down $2.81 on Wednesday, hitting $81.16. 2,737,902 shares of the company's stock were exchanged, compared to its average volume of 904,394. Weatherford International has a 12 month low of $80.54 and a 12 month high of $135.00. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.87 and a beta of 0.58. The business's 50 day simple moving average is $95.00 and its two-hundred day simple moving average is $110.60. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47.

Insider Activity at Weatherford International

In related news, EVP David John Reed sold 6,805 shares of Weatherford International stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $93.96, for a total value of $639,397.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have commented on WFRD. Citigroup dropped their price objective on shares of Weatherford International from $155.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, September 25th. Benchmark reaffirmed a "buy" rating and set a $155.00 price objective on shares of Weatherford International in a research note on Wednesday, July 24th. Raymond James dropped their price objective on shares of Weatherford International from $161.00 to $158.00 and set a "strong-buy" rating for the company in a research note on Thursday, July 25th. Barclays dropped their price objective on shares of Weatherford International from $165.00 to $154.00 and set an "overweight" rating for the company in a research note on Wednesday, October 16th. Finally, Bank of America decreased their target price on Weatherford International from $145.00 to $130.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $146.88.

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.