Brokerages Expect Weatherford International Plc (WFT) Will Post Quarterly Sales of $1.46 Billion

Equities research analysts predict that Weatherford International Plc (NYSE:WFT) will announce sales of $1.46 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Weatherford International’s earnings. The lowest sales estimate is $1.37 billion and the highest is $1.53 billion. Weatherford International posted sales of $1.39 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is scheduled to report its next quarterly earnings report on Friday, April 27th.

On average, analysts expect that Weatherford International will report full-year sales of $1.46 billion for the current fiscal year, with estimates ranging from $5.61 billion to $6.42 billion. For the next financial year, analysts forecast that the business will post sales of $6.65 billion per share, with estimates ranging from $5.53 billion to $7.08 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Weatherford International.

Weatherford International (NYSE:WFT) last released its quarterly earnings data on Friday, February 2nd. The oil and gas company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.12). Weatherford International had a negative net margin of 49.36% and a negative return on equity of 114.20%. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company earned ($0.32) EPS. The business’s revenue was up 6.0% on a year-over-year basis.

WFT has been the subject of several research analyst reports. Loop Capital set a $5.00 price objective on shares of Weatherford International and gave the company a “buy” rating in a research note on Tuesday, February 6th. Zacks Investment Research upgraded shares of Weatherford International from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Jefferies Group downgraded shares of Weatherford International from a “hold” rating to an “underperform” rating and set a $3.00 price objective for the company. in a research note on Thursday, January 4th. UBS Group set a $6.00 price objective on shares of Weatherford International and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, Bank of America upgraded shares of Weatherford International from an “underperform” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.48.

Weatherford International (NYSE:WFT) traded up $0.01 during midday trading on Monday, reaching $2.76. 14,548,979 shares of the company’s stock traded hands, compared to its average volume of 25,260,000. The company has a quick ratio of 1.19, a current ratio of 1.74 and a debt-to-equity ratio of -13.21. Weatherford International has a one year low of $2.62 and a one year high of $7.09. The firm has a market capitalization of $2,740.00, a P/E ratio of -0.97 and a beta of 2.07.

In other news, VP Douglas M. Mills sold 7,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $3.75, for a total value of $28,125.00. Following the completion of the sale, the vice president now directly owns 271,625 shares of the company’s stock, valued at $1,018,593.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Douglas M. Mills sold 6,072 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $4.24, for a total transaction of $25,745.28. Following the completion of the sale, the vice president now directly owns 232,399 shares of the company’s stock, valued at $985,371.76. The disclosure for this sale can be found here. Insiders sold 46,726 shares of company stock valued at $193,648 over the last ninety days. Corporate insiders own 1.16% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new position in Weatherford International during the fourth quarter worth about $104,000. Investors Research Corp purchased a new position in Weatherford International during the fourth quarter worth about $105,000. Quantitative Systematic Strategies LLC purchased a new position in Weatherford International during the third quarter worth about $123,000. Balentine LLC raised its holdings in Weatherford International by 68.5% during the third quarter. Balentine LLC now owns 36,706 shares of the oil and gas company’s stock worth $168,000 after purchasing an additional 14,922 shares in the last quarter. Finally, Toronto Dominion Bank raised its holdings in Weatherford International by 244.5% during the third quarter. Toronto Dominion Bank now owns 39,550 shares of the oil and gas company’s stock worth $181,000 after purchasing an additional 28,070 shares in the last quarter.

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About Weatherford International

Weatherford International Ltd. (Weatherford) is one of the largest multinational oilfield service companies providing innovative solutions, technology and services to the oil and gas industry. The Company operates in over 90 countries and has a network of approximately 860 locations, including manufacturing, service, research and development, and training facilities and employs approximately 29,500 people.

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Earnings History and Estimates for Weatherford International (NYSE:WFT)

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