Wall Street’s forecasts for Weatherford

In this article, we’ll look at Wall Street analysts’ forecasts for Weatherford International (WFT) stock following its 3Q17 earnings release.

On November 1, 2017, after its 3Q17 earnings were released, ~76.0% of analysts tracking Weatherford International rated it as a “buy” or some equivalent. Approximately 21.0% rated the company as a “hold,” and 3% of the analysts recommended a “sell” or an equivalent.

Wall Street’s Forecasts for Weatherford after Its 3Q17 Earnings

Weatherford International comprises 4.3% of the iShares US Oil Equipment & Services ETF (IEZ). The energy sector makes up 6.0% of the S&P 500 Index (SPX-INDEX). The S&P 500 Index increased 23.0% in the past one-year period versus the 7.0% fall in WFT’s stock price.

Approximately 24.0% of the Wall Street analysts tracking National Oilwell Varco (NOV) rated it as a “buy” or some equivalent on November 1. Approximately 65% rated the company as a “hold.” You can read about NOV’s 3Q17 earnings in Market Realist’s National Oilwell Varco’s Results: What Worked in 3Q17?

Analysts’ rating changes for WFT

From August 1, 2017, to November 1, 2017, the percentage of sell-side analysts recommending a “buy” or some equivalent for WFT increased from 73.0% to 76.0%. A year ago, ~69.0% of the sell-side analysts recommended a “buy” for WFT.

Analysts’ target prices for WFT

Wall Street analysts’ mean target price for WFT on November 1 was ~$5.90. WFT is currently trading at ~$3.70, implying an ~60.0% upside at its current price. A month ago, analysts’ average target price for WFT was ~$76.00.

Target prices for WFT’s peers

The mean target price, surveyed among the sell-side analysts, for Oceaneering International (OII) was $20.90 on November 1. OII is currently trading at ~$20.20, implying a 3% upside at its current price.

The mean target price, surveyed among the sell-side analysts, for Core Laboratories (CLB) was $111.60 on November 1. CLB is currently trading at ~$100.90, implying an 11.0% upside at its current price.

In the final part of this series, we’ll discuss Wall Street analysts’ recommendations for Superior Energy Services (SPN).

Latest articles

German chip maker Infineon Technologies has reportedly raised 1.55 billion euros (~$1.74 billion) in capital by selling its shares to fund its acquisition of Cypress Semiconductor (CY). Infineon has sold ~113 million new shares at 13.70 euros each.

As of June 18, Dunkin’ Brands (DNKN) was trading at $80.07, an 8.9% rise since reporting its first-quarter earnings on May 2. Also, DNKN was trading at a premium of 29.8% from its 52-week low of $61.69 and a discount of 1.6% from its 52-week high of $81.40.

19 Jun

Are Lower Oil Prices Weighing on ExxonMobil Stock?

WRITTEN BY Maitali Ramkumar

ExxonMobil (XOM) stock has fallen 7.1% in the second quarter so far. Let's review ExxonMobil's stock performance in comparison to oil price changes and equity market movements in the quarter.

19 Jun

As Facebook Unveils Libra, MSFT and CRM Join a Blockchain Group

WRITTEN BY Mayur Sontakke, CFA, FRM

On June 18, Facebook (FB) launched Libra, its own cryptocurrency. On the same day, CoinDesk published another piece of blockchain news that didn’t receive as much fanfare as Facebook’s Libra news. Was the timing a coincidence? We think not.

Uber Technologies (UBER) has picked Melbourne as another test site for its flying taxi service known as UberAir. The Australian city is the first international test site Uber has chosen for its flying taxi service. The addition of Melbourne brings the number of test locations Uber has picked for its UberAir service to three.

Lyft (LYFT) and Uber Technologies (UBER) are pushing back against California legislation that would require them to recognize their drivers as employees rather than independent contractors. The legislation would require companies like Lyft to give their drivers the compensation and benefits spelled out under California’s employment regulations.