Weatherford International (NASDAQ:WFRD) Announces Quarterly Earnings Results

Weatherford International (NASDAQ:WFRD) issued its quarterly earnings data on Tuesday. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.74 by ($0.08), Briefing.com reports. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $1.12 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year.

Weatherford International Stock Down 3.1 %

NASDAQ:WFRD opened at $117.76 on Friday. Weatherford International has a 1 year low of $78.53 and a 1 year high of $135.00. The company has a current ratio of 2.88, a quick ratio of 1.37 and a debt-to-equity ratio of 1.31. The stock has a market cap of $8.61 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 0.81 and a beta of 0.64. The stock has a 50-day moving average price of $120.56 and a two-hundred day moving average price of $113.03.

Weatherford International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Tuesday, August 13th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WFRD shares. Bank of America lifted their price objective on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Evercore ISI boosted their target price on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Citigroup initiated coverage on Weatherford International in a research report on Tuesday, May 14th. They set a “buy” rating and a $155.00 target price for the company. Barclays boosted their target price on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Raymond James dropped their target price on Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a research report on Thursday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $153.88.

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.