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

Weatherford International (NASDAQ:WFRD) announced its quarterly earnings data on Tuesday. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09, Briefing.com reports. 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 during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year.

Weatherford International Price Performance

NASDAQ WFRD opened at $122.42 on Wednesday. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 0.91 and a beta of 0.73. Weatherford International has a 1-year low of $55.81 and a 1-year high of $127.45. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.79 and a quick ratio of 1.37. The business’s fifty day moving average price is $112.35 and its 200-day moving average price is $100.16.

Insider Buying and Selling

In other Weatherford International news, CAO Desmond J. Mills sold 11,000 shares of the 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 of the company’s stock, valued at $1,785,406.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Benjamin Duster sold 12,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $97.58, for a total transaction of $1,170,960.00. Following the completion of the sale, the director now owns 24,801 shares of the company’s stock, valued at approximately $2,420,081.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Desmond J. Mills sold 11,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now directly owns 18,211 shares in the company, valued at $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 over the last 90 days. Company insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on WFRD shares. TheStreet upgraded Weatherford International from a “c” rating to a “b” rating in a report on Monday, March 11th. Bank of America lifted their target price on shares of Weatherford International from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Raymond James increased their price target on shares of Weatherford International from $134.00 to $152.00 and gave the company a “strong-buy” rating in a report on Tuesday, April 16th. Benchmark boosted their price objective on shares of Weatherford International from $115.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Piper Sandler upped their price objective on Weatherford International from $138.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $131.00.

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.