Wall Street’s forecasts for Weatherford
In this article, we’ll look at Wall Street analysts’ forecasts for Weatherford International (WFT) following its Q2 2018 earnings release.
Analysts’ rating for WFT
As of July 27, 2018, after Q2 2018 earnings, approximately 76% of Wall Street analysts tracking Weatherford International rated it a “buy” or some equivalent. Approximately 20% rated the company a “hold.” Only 4% of sell-side analysts recommended a “sell” or an equivalent. In comparison, all Wall Street analysts tracking Helix Energy Solutions (HLX) rated it a “buy” or some equivalent as of July 27, according to data collected by Reuters.
Analysts’ rating changes for WFT
From April 27 to July 27, 2018, the percentage of sell-side analysts recommending a “buy” or some equivalent for WFT has increased from 69% to 76%. Earlier, as of July 27, approximately 73% of sell-side analysts recommended a “buy” for WFT.
Analysts’ target prices for WFT
Wall Street analysts’ mean target price for WFT as of July 27 was $4.47. WFT is currently trading at $3.48, implying ~28% upside at its current price. A month ago, analysts’ average target price for WFT was $4.41.
Target prices for WFT’s peers
The mean target price among sell-side analysts for Now (DNOW) was $14.2 as of July 27. DNOW is currently trading at ~$14.2, implying 1% downside at its current price. The mean target price surveyed among sell-side analysts for Oceaneering International (OII) was $21.8 as of July 27. OII is currently trading at ~$26.0, implying 16% downside at its current price.
Learn more about the OFS industry in Market Realist’s The Oilfield Equipment and Services Industry: A Primer.