Weatherford International Plc (WFT) is Initiated by Imperial Capital to In-line, Price Target at $7

Weatherford International Plc (WFT) was Initiated by Imperial Capital to “In-line” and the brokerage firm has set the Price Target at $7. Imperial Capital advised their investors in a research report released on Jun 24, 2016.

Many Wall Street Analysts have commented on Weatherford International Plc. 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 was Downgraded by Societe Generale to ” Hold” on May 10, 2016.

On the company’s financial health, Weatherford International Plc reported $-0.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $-0.19. The company had revenue of $2012.00 million for the quarter, compared to analysts expectations of $2019.12 million. The company’s revenue was down -46.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Weatherford International Plc opened for trading at $6.04 and hit $6.24 on the upside on Tuesday, eventually ending the session at $6.19, with a gain of 1.98% or 0.12 points. The heightened volatility saw the trading volume jump to 1,12,12,810 shares. Company has a market cap of $5,544 M.

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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