Weatherford International (NASDAQ:WFRD) Announces Quarterly Earnings Results

Weatherford International (NASDAQ:WFRD) issued its earnings results on Tuesday. The company reported $2.06 EPS for the quarter, topping the consensus estimate of $1.65 by $0.41, Briefing.com reports. Weatherford International had a return on equity of 49.11% and a net margin of 9.65%. The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $1.66 EPS. The business’s revenue was up 7.3% on a year-over-year basis.

Weatherford International Trading Down 4.7 %

Shares of Weatherford International stock opened at $77.31 on Friday. The business has a fifty day simple moving average of $93.88 and a 200-day simple moving average of $110.16. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. Weatherford International has a fifty-two week low of $77.29 and a fifty-two week high of $135.00. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Wednesday, November 6th. Weatherford International’s dividend payout ratio is presently 14.04%.

Insider Buying and Selling

In other news, EVP David John Reed sold 6,805 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $93.96, for a total transaction of $639,397.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays reduced their price objective on Weatherford International from $165.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI reduced their price target on shares of Weatherford International from $149.00 to $142.00 and set an “outperform” rating on the stock in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $155.00 target price on shares of Weatherford International in a research note on Thursday. Raymond James decreased their price target on 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. Finally, Citigroup lowered their price target on Weatherford International from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $145.75.

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.