Weatherford International (WFRD) Set to Announce Earnings on Tuesday

Weatherford International (NASDAQ:WFRD - Get Free Report) is scheduled to announce its earnings results after the market closes on Tuesday, April 23rd. Analysts expect the company to announce earnings of $1.41 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Weatherford International (NASDAQ:WFRD - Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.42 by $0.48. Weatherford International had a return on equity of 56.68% and a net margin of 8.12%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the firm earned $1.12 EPS. The business's quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts expect Weatherford International to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Weatherford International Stock Performance

NASDAQ:WFRD traded down $1.85 during mid-day trading on Tuesday, hitting $113.71. The stock had a trading volume of 514,445 shares, compared to its average volume of 817,824. 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 50 day simple moving average of $110.16 and a 200-day simple moving average of $99.09. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 20.16 and a beta of 0.73. Weatherford International has a 52 week low of $55.81 and a 52 week high of $127.45.

Insider Activity

In other 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 of the company's stock, valued at $1,785,406.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Weatherford International news, CEO Girish Saligram sold 60,000 shares of the business's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $103.57, for a total transaction of $6,214,200.00. Following the sale, the chief executive officer now directly owns 146,895 shares of the company's stock, valued at approximately $15,213,915.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Desmond J. Mills sold 11,000 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer now directly owns 18,211 shares of the company's stock, valued at approximately $1,785,406.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 135,455 shares of company stock worth $13,628,764. Insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Weatherford International

Several hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC acquired a new position in Weatherford International in the 1st quarter worth about $207,000. UBS Group AG grew its holdings in Weatherford International by 83.6% in the 1st quarter. UBS Group AG now owns 5,985 shares of the company's stock valued at $199,000 after buying an additional 2,725 shares during the last quarter. Legal & General Group Plc increased its position in Weatherford International by 72.6% during the fourth quarter. Legal & General Group Plc now owns 1,969 shares of the company's stock worth $193,000 after acquiring an additional 828 shares during the period. US Bancorp DE raised its position in shares of Weatherford International by 51.2% during the fourth quarter. US Bancorp DE now owns 1,657 shares of the company's stock valued at $162,000 after buying an additional 561 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Weatherford International by 86.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,352 shares of the company's stock valued at $132,000 after buying an additional 628 shares during the period. 97.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on WFRD shares. Benchmark raised their target price on Weatherford International from $115.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, April 1st. Barclays assumed coverage on shares of Weatherford International in a report on Wednesday, February 28th. They issued an "overweight" rating and a $135.00 price objective for the company. TheStreet raised shares of Weatherford International from a "c" rating to a "b" rating in a research note on Monday, March 11th. Raymond James boosted their price target on shares of Weatherford International from $134.00 to $152.00 and gave the stock a "strong-buy" rating in a research report on Tuesday. Finally, Bank of America increased their price objective on shares of Weatherford International from $123.00 to $135.00 and gave the company a "buy" rating in a report on Monday. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $131.00.

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.