SunTrust Banks Analysts Decrease Earnings Estimates for Weatherford International plc (WFT)
Weatherford International plc (NYSE:WFT) – Equities research analysts at SunTrust Banks cut their Q3 2020 earnings per share estimates for shares of Weatherford International in a research note issued on Monday, February 4th. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will post earnings per share of $0.02 for the quarter, down from their prior forecast of $0.07. SunTrust Banks also issued estimates for Weatherford International’s Q4 2020 earnings at $0.06 EPS.
Several other brokerages have also recently issued reports on WFT. Raymond James reaffirmed a “sell” rating on shares of Weatherford International in a research report on Monday, December 17th. BMO Capital Markets set a $3.00 target price on Weatherford International and gave the company a “buy” rating in a research report on Tuesday, November 6th. Jefferies Financial Group set a $1.00 target price on Weatherford International and gave the company a “hold” rating in a research report on Monday, November 5th. Wells Fargo & Co reiterated a “hold” rating on shares of Weatherford International in a report on Sunday, January 6th. Finally, JPMorgan Chase & Co. lowered Weatherford International from an “overweight” rating to a “neutral” rating in a report on Tuesday, December 11th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.18.
Weatherford International (NYSE:WFT) last announced its earnings results on Friday, February 1st. The oil and gas company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the previous year, the business earned ($0.33) earnings per share.
Institutional investors and hedge funds have recently modified their holdings of the company. B. Riley Wealth Management Inc. purchased a new stake in shares of Weatherford International during the 3rd quarter valued at $80,000. Matthew Goff Investment Advisor LLC purchased a new position in Weatherford International in the 3rd quarter worth $8,993,000. Brave Asset Management Inc. raised its stake in Weatherford International by 150.0% in the 3rd quarter. Brave Asset Management Inc. now owns 40,000 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 24,000 shares during the last quarter. Exane Derivatives raised its stake in Weatherford International by 422.3% in the 4th quarter. Exane Derivatives now owns 54,093 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 43,736 shares during the last quarter. Finally, Private Advisor Group LLC raised its stake in Weatherford International by 295.3% in the 3rd quarter. Private Advisor Group LLC now owns 64,049 shares of the oil and gas company’s stock worth $174,000 after acquiring an additional 47,848 shares during the last quarter.
About Weatherford International
Weatherford International plc operates as a multinational oilfield service company worldwide. It offers equipment and services used in the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company operates in two segments, Western Hemisphere and Eastern Hemisphere.
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