Q3 2024 EPS Estimates for Weatherford International plc (NASDAQ:WFRD) Lifted by Capital One Financial

Weatherford International plc (NASDAQ:WFRD) – Investment analysts at Capital One Financial upped their Q3 2024 earnings per share estimates for shares of Weatherford International in a research note issued to investors on Wednesday, July 24th. Capital One Financial analyst D. Becker now anticipates that the company will earn $1.74 per share for the quarter, up from their previous estimate of $1.70. The consensus estimate for Weatherford International’s current full-year earnings is $7.10 per share. Capital One Financial also issued estimates for Weatherford International’s Q4 2024 earnings at $1.94 EPS, Q1 2025 earnings at $1.76 EPS, Q2 2025 earnings at $2.04 EPS, Q3 2025 earnings at $2.19 EPS, Q4 2025 earnings at $2.38 EPS and FY2025 earnings at $8.37 EPS.

Weatherford International (NASDAQ:WFRD) last posted its earnings results on Tuesday, July 23rd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.74 by ($0.08). The company had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 49.69%. Weatherford International’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS.

A number of other equities research analysts have also weighed in on WFRD. Citigroup started coverage on shares of Weatherford International in a research note on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target on the stock. Evercore ISI boosted their price target on Weatherford International from $130.00 to $151.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Bank of America increased their price target on Weatherford International from $145.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 15th. Benchmark restated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a report on Wednesday. Finally, Piper Sandler increased their target price on Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $153.88.

Weatherford International Trading Down 0.3 %

WFRD opened at $117.38 on Thursday. The firm’s 50 day moving average is $120.43 and its 200-day moving average is $113.19. Weatherford International has a 52-week low of $78.53 and a 52-week high of $135.00. The company has a quick ratio of 1.37, a current ratio of 2.88 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $8.59 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.81 and a beta of 0.64.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. New York State Teachers Retirement System raised its stake in Weatherford International by 14.9% during the fourth quarter. New York State Teachers Retirement System now owns 74,676 shares of the company’s stock worth $7,306,000 after acquiring an additional 9,705 shares during the period. SG Americas Securities LLC grew its stake in Weatherford International by 287.1% during the 4th quarter. SG Americas Securities LLC now owns 24,715 shares of the company’s stock worth $2,418,000 after buying an additional 18,330 shares during the last quarter. Natixis Advisors L.P. acquired a new stake in Weatherford International in the fourth quarter worth $1,842,000. Louisiana State Employees Retirement System acquired a new stake in Weatherford International in the fourth quarter worth $1,986,000. Finally, Hsbc Holdings PLC bought a new stake in Weatherford International in the fourth quarter valued at $3,309,000. 97.23% of the stock is currently owned by institutional investors.

Weatherford International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Tuesday, August 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date is Tuesday, August 13th. Weatherford International’s dividend payout ratio (DPR) is presently 16.18%.

About Weatherford International

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.