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Analysts’ Forecast for Weatherford before Its 3Q17 Earnings

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Oct. 13 2017, Updated 10:37 a.m. ET

Weatherford International

Now, we’ll look at Wall Street analysts’ forecast for Weatherford International (WFT) before its 3Q17 earnings.

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Analysts’ ratings

On October 10, 2017, ~74% of the Wall Street analysts tracking Weatherford International rated it as a “buy” or some equivalent. Approximately 24% rated the company as a “hold,” while the rest of the analysts rated it as a “sell” or some equivalent. Weatherford accounts for 2.9% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES fell 18% in the past year—compared to a 33% fall in Weatherford’s stock price.

In comparison, ~53% of the analysts tracking Core Laboratories (CLB) rated it as a “buy” or some equivalent. Approximately 47% rated the company as a “hold.”

Analysts’ rating changes for Weatherford

From July 10, 2017, to July 13, 2017, the percentage of the Wall Street analysts recommending a “buy” or some equivalent for Weatherford increased from 73% to 74%. Analysts’ “hold” recommendations didn’t change during this period. A year ago, ~69% of the sell-side analysts recommended a “buy” for Weatherford.

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Analysts’ target prices

On October 10, sell-side analysts’ mean target price for Weatherford was ~$6.0. Currently, Weatherford is trading at ~$4.1, which implies an ~46% upside at its current average price. Analysts’ mean target price for Weatherford was the same the previous month.

Target prices for Weatherford’s peers

The average target price, surveyed among the sell-side analysts, for Oceaneering International (OII) was $27.3 on October 10. Currently, Oceaneering International is trading at ~$25.4, which implies nearly 7% potential returns at its current price. The average target price, surveyed among the sell-side analysts, for Oil States International (OIS) was $28.1 on October 10. Currently, Oil States International is trading at ~$25.7, which implies 9% upside at its current price.

To learn more about the OFS industry, read The Oilfield Equipment and Services Industry: A Primer.

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