Q1 2020 EPS Estimates for Weatherford International plc (WFT) Lowered by Analyst

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Weatherford International plc (NYSE:WFT) – Research analysts at Seaport Global Securities decreased their Q1 2020 earnings per share estimates for Weatherford International in a note issued to investors on Wednesday, April 17th. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will earn $0.01 per share for the quarter, down from their previous estimate of $0.02. Seaport Global Securities also issued estimates for Weatherford International’s Q2 2020 earnings at $0.02 EPS, Q3 2020 earnings at $0.05 EPS, Q4 2020 earnings at $0.08 EPS and FY2020 earnings at $0.15 EPS.

Weatherford International (NYSE:WFT) last released its earnings results on Friday, February 1st. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.02). The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.44 billion. During the same period in the previous year, the business earned ($0.33) EPS.

Several other equities research analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Weatherford International from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Griffin Securities restated a “buy” rating on shares of Weatherford International in a report on Wednesday, February 27th. Credit Suisse Group reiterated a “buy” rating and set a $1.00 price objective on shares of Weatherford International in a report on Sunday, February 3rd. Capital One Financial lowered shares of Weatherford International from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 16th. Finally, BMO Capital Markets lowered shares of Weatherford International from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $2.50 to $1.00 in a report on Wednesday, January 9th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $1.63.

Weatherford International stock opened at $0.59 on Thursday. The stock has a market capitalization of $587.25 million, a PE ratio of -0.99 and a beta of 2.22. Weatherford International has a 12-month low of $0.22 and a 12-month high of $3.75.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc lifted its holdings in Weatherford International by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 85,521,323 shares of the oil and gas company’s stock valued at $231,762,000 after buying an additional 947,228 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Weatherford International by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 85,521,323 shares of the oil and gas company’s stock valued at $231,762,000 after purchasing an additional 947,228 shares in the last quarter. Perella Weinberg Partners Capital Management LP raised its holdings in shares of Weatherford International by 48.3% in the 4th quarter. Perella Weinberg Partners Capital Management LP now owns 34,476,124 shares of the oil and gas company’s stock valued at $19,272,000 after purchasing an additional 11,221,106 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Weatherford International by 8.1% in the 4th quarter. Van ECK Associates Corp now owns 27,331,719 shares of the oil and gas company’s stock valued at $15,278,000 after purchasing an additional 2,047,074 shares in the last quarter. Finally, Mackenzie Financial Corp raised its holdings in shares of Weatherford International by 25.1% in the 4th quarter. Mackenzie Financial Corp now owns 21,525,616 shares of the oil and gas company’s stock valued at $12,033,000 after purchasing an additional 4,323,612 shares in the last quarter. Institutional investors own 86.27% of the company’s stock.

Weatherford International Company Profile

Weatherford International plc, an oilfield service company, provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells worldwide. The company operates in two segments, Western Hemisphere and Eastern Hemisphere. It offers artificial lift systems, including reciprocating rod, progressing cavity pumping, gas, hydraulic, plunger, and hybrid lift systems, as well as related automation and control systems; pressure pumping and reservoir stimulation services, such as acidizing, fracturing and fluid systems, cementing, and coiled-tubing intervention; and drill stem test tools, and surface well testing and multiphase flow measurement services.

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

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