Weatherford International (NASDAQ:WFRD) Posts Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Weatherford International (NASDAQ:WFRD - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.09, Briefing.com reports. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $0.97 EPS. Weatherford International's quarterly revenue was up 14.5% compared to the same quarter last year.

Weatherford International Stock Up 5.9 %

Shares of WFRD traded up $6.92 during midday trading on Wednesday, reaching $125.01. 1,482,474 shares of the stock were exchanged, compared to its average volume of 828,706. The company has a current ratio of 1.79, a quick ratio of 1.37 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $9.04 billion, a P/E ratio of 22.13, a PEG ratio of 0.91 and a beta of 0.73. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45. The company's 50 day moving average is $112.90 and its two-hundred day moving average is $100.33.

Wall Street Analyst Weigh In

WFRD has been the topic of several research analyst reports. TheStreet raised Weatherford International from a "c" rating to a "b" rating in a research report on Monday, March 11th. Bank of America upped their price objective on Weatherford International from $123.00 to $135.00 and gave the company a "buy" rating in a research report on Monday, April 15th. Piper Sandler upped their price objective on Weatherford International from $138.00 to $180.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Benchmark reaffirmed a "buy" rating and issued a $155.00 price objective on shares of Weatherford International in a research report on Wednesday. Finally, Barclays initiated coverage on Weatherford International in a research report on Wednesday, February 28th. They issued an "overweight" rating and a $135.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Weatherford International has an average rating of "Buy" and an average price target of $131.00.

Insider Buying and Selling

In related news, CAO Desmond J. Mills sold 11,000 shares of the company's stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $98.04, for a total transaction of $1,078,440.00. Following the completion of the sale, the chief accounting officer now directly owns 18,211 shares in the company, valued at approximately $1,785,406.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $103.57, for a total value of $6,214,200.00. Following the completion of the sale, the chief executive officer now directly owns 146,895 shares in the company, valued at $15,213,915.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Desmond J. Mills sold 11,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $98.04, for a total value of $1,078,440.00. Following the completion of the transaction, the chief accounting officer now owns 18,211 shares of the company's stock, valued at $1,785,406.44. The disclosure for this sale can be found here. Insiders sold 135,455 shares of company stock worth $13,628,764 in the last three months. 2.20% of the stock is owned by insiders.

Weatherford International Company Profile

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.