Weatherford International (NASDAQ:WFRD) Releases Quarterly Earnings Results, Beats Estimates By $0.47 EPS

Key Points

• Quarterly beat: Weatherford reported EPS of $1.49, beating consensus by $0.47, with revenue of $1.15 billion roughly in line with estimates but down 3.4% year‑over‑year; return on equity was 28.07% and net margin 8.76%.
• The company raised its quarterly dividend to $0.275 (annualized $1.10, yield 1.1%, DPR 18.55%), while CEO Girish Saligram disclosed a sale of 100,000 shares for $10.55 million.
• Market and analyst view: The stock carries a consensus "Moderate Buy" rating with a $102 target, trades at a PE of 16.8 and has a $7.15 billion market capitalization (12‑month high $110.57).

Weatherford International (NASDAQ:WFRD - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.02 by $0.47, FiscalAI reports. Weatherford International had a return on equity of 28.07% and a net margin of 8.76%.The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the prior year, the company posted $1.03 earnings per share. The company's quarterly revenue was down 3.4% on a year-over-year basis.

Weatherford International Price Performance

Shares of NASDAQ:WFRD opened at $99.63 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 2.19 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $7.15 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 1.26 and a beta of 0.83. The firm's 50 day moving average price is $97.28 and its 200-day moving average price is $85.12. Weatherford International has a twelve month low of $40.12 and a twelve month high of $110.57.

Weatherford International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Friday, February 6th were paid a $0.275 dividend. This is a boost from Weatherford International's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 6th. This represents a $1.10 annualized dividend and a dividend yield of 1.1%. Weatherford International's dividend payout ratio (DPR) is currently 18.55%.

Insider Transactions at Weatherford International

In related news, CEO Girish Saligram sold 100,000 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $105.50, for a total transaction of $10,550,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Weatherford International by 223.0% in the 1st quarter. Royal Bank of Canada now owns 122,662 shares of the company's stock worth $6,568,000 after purchasing an additional 84,684 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Weatherford International by 129.3% during the first quarter. Goldman Sachs Group Inc. now owns 143,703 shares of the company's stock valued at $7,695,000 after purchasing an additional 81,046 shares in the last quarter. United Services Automobile Association bought a new stake in Weatherford International during the first quarter valued at about $258,000. Cetera Investment Advisers grew its holdings in Weatherford International by 26.8% during the second quarter. Cetera Investment Advisers now owns 12,764 shares of the company's stock valued at $642,000 after purchasing an additional 2,695 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Weatherford International by 83.5% in the second quarter. EverSource Wealth Advisors LLC now owns 556 shares of the company's stock worth $28,000 after buying an additional 253 shares in the last quarter. Hedge funds and other institutional investors own 97.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WFRD. Wall Street Zen lowered Weatherford International from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, April 1st. Royal Bank Of Canada initiated coverage on shares of Weatherford International in a report on Wednesday, March 18th. They set an "outperform" rating and a $105.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Weatherford International from $83.00 to $107.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 4th. Piper Sandler boosted their price objective on shares of Weatherford International from $110.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Weatherford International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 14th. Seven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.00.

About Weatherford International

Weatherford International NASDAQ: WFRD is a global oilfield services company specializing in the development, design and manufacturing of equipment and technologies for oil and natural gas drilling, evaluation, completion and production. The company’s core offerings include well construction services such as directional drilling and wellbore positioning, well completion solutions that encompass sand control and zonal isolation technologies, and production enhancement services involving artificial lift systems and well intervention tools.

In addition to its comprehensive service lines, Weatherford provides a range of drilling optimization and reservoir evaluation products.