Weatherford International (NASDAQ:WFRD) Announces Earnings Results, Misses Expectations By $0.08 EPS

Weatherford International (NASDAQ:WFRD) announced its earnings results 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. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.42 billion. Weatherford International had a net margin of 9.19% and a return on equity of 53.86%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.12 earnings per share.

Weatherford International Stock Down 3.1 %

NASDAQ:WFRD traded down $3.79 during midday trading on Thursday, hitting $117.76. 2,084,198 shares of the company were exchanged, compared to its average volume of 870,372. Weatherford International has a fifty-two week low of $78.53 and a fifty-two week high of $135.00. The company has a market capitalization of $8.61 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 0.89 and a beta of 0.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 1.48. The company has a fifty day simple moving average of $120.66 and a 200 day simple moving average of $112.99.

Weatherford International Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WFRD shares. Citigroup began coverage on Weatherford International in a research report on Tuesday, May 14th. They set a “buy” rating and a $155.00 price target on the stock. Barclays upped their price objective on Weatherford International from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday. Evercore ISI increased their price target on Weatherford International from $130.00 to $151.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Piper Sandler upped their price objective on shares of Weatherford International from $180.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, 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 note on Monday, July 15th. Seven investment 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, the stock currently has a consensus rating of “Buy” and a consensus price target of $153.88.

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.