Weatherford International Plc (WFT) Releases Earnings Results, Beats Expectations By $0.01 EPS

Weatherford International Plc (WFT) reported quarterly earnings results on Wednesday, Jul-27-2016. The company said it had a profit of $-0.28 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.29. The company posted revenue of $1402.00 million in the period, compared to analysts expectations of $1433.67 million. The company’s revenue was down -41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Weatherford International Plc. Imperial Capital Initiated Weatherford International Plc on Jun 24, 2016 to “In-line”, Price Target of the shares are set at $7.Company shares were Upgraded by Barclays on Jun 6, 2016 to ” Overweight”, Firm has raised the Price Target to $ 8 from a previous price target of $7 .Weatherford International Plc was Upgraded by Piper Jaffray to ” Overweight” on Jun 3, 2016.

Weatherford International Plc closed down -0.01 points or -0.17% at $5.72 with 3,01,49,035 shares getting traded on Thursday. Post opening the session at $5.71, the shares hit an intraday low of $5.65 and an intraday high of $6.289 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on May 10, 2016, Francis S Kalman (director) purchased 30,000 shares at $5.29 per share price. According to the SEC, on May 10, 2016, Robert A Rayne (director) purchased 100,000 shares at $5.59 per share price. On May 10, 2016, Douglas M. Mills (VP & Chief Accounting Officer) sold 5,070 shares at $5.65 per share price, according to the Form-4 filing with the securities and exchange commission.

Weatherford International Plc

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