Q2 2024 EPS Estimates for Weatherford International plc Lowered by Analyst (NASDAQ:WFRD)

Weatherford International plc (NASDAQ:WFRDFree Report) – Investment analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for Weatherford International in a research report issued to clients and investors on Thursday, February 8th. Capital One Financial analyst D. Becker now forecasts that the company will earn $1.56 per share for the quarter, down from their prior forecast of $1.69. The consensus estimate for Weatherford International’s current full-year earnings is $6.63 per share. Capital One Financial also issued estimates for Weatherford International’s Q3 2024 earnings at $1.70 EPS, Q4 2024 earnings at $1.82 EPS, FY2024 earnings at $6.48 EPS, Q1 2025 earnings at $1.71 EPS, Q2 2025 earnings at $1.99 EPS, Q3 2025 earnings at $2.18 EPS, Q4 2025 earnings at $2.30 EPS and FY2025 earnings at $8.11 EPS.

Other equities research analysts also recently issued reports about the company. Piper Sandler increased their price target on Weatherford International from $116.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, October 26th. Raymond James raised their price objective on Weatherford International from $110.00 to $127.00 and gave the stock a “strong-buy” rating in a report on Thursday, October 26th. Bank of America initiated coverage on Weatherford International in a report on Friday, November 10th. They set a “buy” rating and a $120.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Weatherford International from $101.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday, November 14th. Finally, TheStreet downgraded Weatherford International from a “b-” rating to a “c” rating in a report on Tuesday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.50.

Read Our Latest Research Report on Weatherford International

Weatherford International Trading Up 4.8 %

Shares of NASDAQ WFRD opened at $98.45 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.41 and a current ratio of 2.49. The business’s 50 day moving average price is $92.91 and its 200-day moving average price is $91.31. Weatherford International has a fifty-two week low of $51.46 and a fifty-two week high of $102.64. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 17.42 and a beta of 0.70.

Weatherford International (NASDAQ:WFRDGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the business posted $1.12 earnings per share. The company’s quarterly revenue was up 12.7% compared to the same quarter last year.

Hedge Funds Weigh In On Weatherford International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Weatherford International in the 4th quarter worth $27,000. Quadrant Capital Group LLC raised its stake in Weatherford International by 539.1% in the 4th quarter. Quadrant Capital Group LLC now owns 294 shares of the company’s stock worth $29,000 after acquiring an additional 248 shares during the last quarter. CWM LLC raised its stake in Weatherford International by 145.7% in the 4th quarter. CWM LLC now owns 312 shares of the company’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Huntington National Bank purchased a new position in Weatherford International in the 3rd quarter worth $30,000. Finally, Covestor Ltd raised its stake in Weatherford International by 557.1% in the 2nd quarter. Covestor Ltd now owns 368 shares of the company’s stock worth $25,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Insider Buying and Selling at Weatherford International

In other news, EVP Joseph H. Mongrain sold 17,071 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $89.91, for a total value of $1,534,853.61. Following the completion of the sale, the executive vice president now owns 30,483 shares of the company’s stock, valued at approximately $2,740,726.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

About Weatherford International

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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.

See Also

Earnings History and Estimates for Weatherford International (NASDAQ:WFRD)

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