Weatherford International PLC Expected to Earn Q3 2017 Earnings of ($0.24) Per Share (NYSE:WFT)

Weatherford International PLC (NYSE:WFT) – Equities researchers at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for Weatherford International PLC in a research report issued on Monday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings per share of ($0.24) for the quarter, down from their prior forecast of ($0.18). SunTrust Banks also issued estimates for Weatherford International PLC’s Q4 2017 earnings at ($0.23) EPS, Q1 2018 earnings at ($0.23) EPS, Q2 2018 earnings at ($0.22) EPS, Q3 2018 earnings at ($0.20) EPS, Q4 2018 earnings at ($0.17) EPS and FY2018 earnings at ($0.83) EPS.

Weatherford International PLC (NYSE:WFT) last posted its earnings results on Friday, July 28th. The oil and gas company reported ($0.28) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.28). Weatherford International PLC had a negative net margin of 53.49% and a negative return on equity of 65.33%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the firm earned ($0.28) EPS. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: “Weatherford International PLC Expected to Earn Q3 2017 Earnings of ($0.24) Per Share (NYSE:WFT)” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://sportsperspectives.com/2017/08/10/weatherford-international-plc-expected-to-earn-q3-2017-earnings-of-0-24-per-share-nysewft.html.

A number of other equities research analysts have also recently weighed in on WFT. Goldman Sachs Group, Inc. (The) cut shares of Weatherford International PLC from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $6.33 to $7.00 in a report on Wednesday, April 12th. Scotiabank set a $6.00 target price on shares of Weatherford International PLC and gave the stock a “hold” rating in a research note on Monday, May 1st. BMO Capital Markets reiterated a “buy” rating and issued a $7.00 target price on shares of Weatherford International PLC in a research note on Tuesday, May 2nd. UBS AG restated a “buy” rating and set a $8.00 price objective (down previously from $9.00) on shares of Weatherford International PLC in a research report on Tuesday, May 2nd. Finally, Jefferies Group LLC restated a “hold” rating and set a $6.00 price objective on shares of Weatherford International PLC in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $6.52.

Weatherford International PLC (NYSE:WFT) opened at 4.03 on Thursday. The firm’s 50 day moving average is $4.11 and its 200 day moving average is $5.21. Weatherford International PLC has a 52-week low of $3.39 and a 52-week high of $7.09. The company’s market cap is $3.99 billion.

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its stake in Weatherford International PLC by 58.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 101,807 shares of the oil and gas company’s stock valued at $693,000 after buying an additional 37,643 shares during the period. Teachers Advisors LLC raised its stake in Weatherford International PLC by 15.9% in the first quarter. Teachers Advisors LLC now owns 10,031,765 shares of the oil and gas company’s stock valued at $66,711,000 after buying an additional 1,372,563 shares during the period. Korea Investment CORP purchased a new stake in Weatherford International PLC during the first quarter valued at about $6,015,000. Cipher Capital LP purchased a new stake in Weatherford International PLC during the first quarter valued at about $1,310,000. Finally, Omega Advisors Inc. purchased a new stake in Weatherford International PLC during the first quarter valued at about $2,660,000.

About Weatherford International PLC

Weatherford International Ltd. (Weatherford) is a provider of equipment and services used in the drilling, evaluation, completion, production and intervention of oil and natural gas wells. The Company operates four segments: North America, Latin America, Europe/West Africa/the former Soviet Union (FSU) and Middle East/North Africa/Asia.

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

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