Weatherford International (NASDAQ:WFRD) Posts Earnings Results, Beats Estimates By $0.41 EPS

Weatherford International (NASDAQ:WFRD) posted its quarterly earnings results on Tuesday. The company reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.41, Briefing.com reports. Weatherford International had a net margin of 9.65% and a return on equity of 49.11%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis.

Weatherford International Stock Performance

NASDAQ:WFRD opened at $77.31 on Friday. Weatherford International has a 1-year low of $77.29 and a 1-year high of $135.00. The firm has a 50 day simple moving average of $93.88 and a 200-day simple moving average of $110.16. The firm has a market cap of $5.66 billion, a PE ratio of 10.86, a P/E/G ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.99 and a quick ratio of 1.47.

Weatherford International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.29%. Weatherford International’s dividend payout ratio (DPR) is presently 14.04%.

Insiders Place Their Bets

In other Weatherford International news, EVP David John Reed sold 6,805 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $93.96, for a total transaction of $639,397.80. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America cut their target price on Weatherford International from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup reduced their target price on Weatherford International from $155.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and set a $155.00 price target on shares of Weatherford International in a research note on Thursday. Barclays reduced their price objective on shares of Weatherford International from $165.00 to $154.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Raymond James lowered their target price on shares of Weatherford International from $161.00 to $158.00 and set a “strong-buy” rating on the stock in a research report on Thursday, July 25th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Weatherford International has an average rating of “Buy” and an average target price of $145.75.

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.