Weatherford International (NASDAQ:WFRD) Announces Earnings Results, Beats Estimates By $0.41 EPS

Weatherford International (NASDAQ:WFRD) released its quarterly earnings results on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.41, Briefing.com reports. Weatherford International had a return on equity of 49.11% and a net margin of 9.65%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. Weatherford International’s revenue for the quarter was up 7.3% on a year-over-year basis.

Weatherford International Price Performance

Shares of WFRD opened at $81.16 on Thursday. The company has a 50 day moving average of $94.51 and a two-hundred day moving average of $110.39. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.86 and a beta of 0.58. The company has a quick ratio of 1.47, a current ratio of 1.99 and a debt-to-equity ratio of 1.31. Weatherford International has a twelve month low of $80.54 and a twelve month high of $135.00.

Weatherford International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Wednesday, November 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Wall Street Analyst Weigh In

WFRD has been the subject of a number of recent research reports. Citigroup cut their price objective on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Barclays cut their price target on Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Benchmark reiterated a “buy” rating and set a $155.00 price objective on shares of Weatherford International in a research report on Wednesday, July 24th. Raymond James cut their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Finally, Bank of America dropped their price objective on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a report on Monday, October 14th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Weatherford International presently has a consensus rating of “Buy” and a consensus price target of $146.88.

Insider Activity

In related news, EVP David John Reed sold 6,805 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $93.96, for a total value of $639,397.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

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.