Wall Street’s forecasts for Weatherford
In this article, we’ll look at Wall Street analysts’ forecasts for Weatherford International (WFT) stock following its 4Q17 earnings release. After its 4Q17 earnings release on February 2, 2018, ~75.0% of analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 19.0% rated the company a “hold,” and 6.0% of the analysts recommended a “sell” or an equivalent.
Weatherford International comprises 2.5% of the iShares US Oil Equipment & Services ETF (IEZ). IEZ fell 21.0% in the past one year versus the 34.0% fall in WFT’s stock price.
In comparison, all of the Wall Street analysts tracking Flotek Industries (FTK) rated it a “buy” or some equivalent on February 2.
Analysts’ rating changes for WFT
From November 2, 2017, to February 2, 2018, the percentage of sell-side analysts recommending a “buy” or some equivalent for Weatherford International has decreased from 82.0% to 75.0%. On February 2, 2017, ~73.0% of the sell-side analysts recommended a “buy” for WFT.
Analysts’ target prices for WFT
Wall Street analysts’ mean target price for Weatherford International (WFT) on February 2 was ~$5.30. WFT is currently trading at ~$3.50, implying an ~52.0% upside at its current price. A month ago, analysts’ average target price for WFT was ~$5.40.
Target prices for WFT’s peers
The mean target price surveyed among the sell-side analysts for Oceaneering International (OII) was $20.20 on February 2. OII is currently trading at ~$20.40, implying a 1.0% downside at its current price.
The mean target price surveyed among the sell-side analysts for Oil States International (OIS) was $28.60 on February 2. OIS is currently trading at ~$31.00, implying an 8.0% downside at its current price.
You can learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.