SunTrust Banks Weighs in on Weatherford International plc’s FY2020 Earnings (WFT)

Weatherford International plc (NYSE:WFT) – Research analysts at SunTrust Banks issued their FY2020 earnings estimates for shares of Weatherford International in a research note issued to investors on Monday, October 29th. SunTrust Banks analyst K. Sill forecasts that the oil and gas company will earn $0.17 per share for the year.

Weatherford International (NYSE:WFT) last posted its quarterly earnings results on Monday, October 29th. The oil and gas company reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.03. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Weatherford International had a negative net margin of 45.58% and a negative return on equity of 283.53%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.22) earnings per share.



A number of other research analysts have also recently commented on WFT. UBS Group cut shares of Weatherford International from a “buy” rating to a “neutral” rating and cut their price target for the stock from $5.00 to $2.00 in a report on Wednesday. Piper Jaffray Companies set a $2.00 price target on shares of Weatherford International and gave the stock a “hold” rating in a report on Tuesday. Guggenheim lowered shares of Weatherford International from a “buy” rating to a “neutral” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Weatherford International from a “hold” rating to a “sell” rating in a research note on Sunday, July 15th. Finally, Societe Generale set a $2.00 price objective on shares of Weatherford International and gave the stock a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Weatherford International has a consensus rating of “Hold” and a consensus target price of $3.78.

NYSE WFT opened at $1.35 on Wednesday. The stock has a market capitalization of $1.97 billion, a PE ratio of -1.16 and a beta of 2.39. Weatherford International has a 12 month low of $1.10 and a 12 month high of $4.41.

In other news, Director Angela A. Minas purchased 40,000 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was acquired at an average cost of $2.45 per share, with a total value of $98,000.00. Following the completion of the transaction, the director now owns 102,711 shares in the company, valued at approximately $251,641.95. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William E. Macaulay sold 767,591 shares of the stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $2.86, for a total transaction of $2,195,310.26. Following the sale, the director now directly owns 399,443 shares of the company’s stock, valued at $1,142,406.98. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Perella Weinberg Partners Capital Management LP lifted its position in shares of Weatherford International by 8.6% during the third quarter. Perella Weinberg Partners Capital Management LP now owns 23,255,018 shares of the oil and gas company’s stock valued at $63,021,000 after buying an additional 1,835,110 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Weatherford International by 1,297.0% during the third quarter. First Trust Advisors LP now owns 505,027 shares of the oil and gas company’s stock valued at $1,369,000 after buying an additional 468,876 shares during the last quarter. AMG National Trust Bank lifted its position in shares of Weatherford International by 49.7% during the third quarter. AMG National Trust Bank now owns 442,005 shares of the oil and gas company’s stock valued at $1,198,000 after buying an additional 146,702 shares during the last quarter. Brave Asset Management Inc. lifted its position in shares of Weatherford International by 150.0% during the third quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 24,000 shares during the last quarter. Finally, Fondren Management LP purchased a new stake in shares of Weatherford International during the second quarter valued at about $263,000.

Weatherford International Company Profile

Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.

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

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