uploads/2018/07/Broker-Recommendations-6-1.jpg

Wall Street’s Forecasts for WFT before Q2 2018 Earnings

By

Updated

Wall Street’s forecasts for Weatherford International

Now, we’ll look at Wall Street analysts’ forecasts for Weatherford International (WFT) before its second-quarter earnings.

Article continues below advertisement

Analysts’ ratings for Weatherford International

On July 17, approximately 73.0% of Wall Street analysts tracking Weatherford International rated it as a “buy” or some equivalent. Approximately 23.0% rated the company as a “hold,” and 4.0% rated it as a “sell” or equivalent.

In comparison, 69.0% of the sell-side analysts tracking C&J Energy Services rated it as a “buy” or some equivalent on July 17. Approximately 31.0% rated C&J Energy Services as a “hold” on July 17.

Analysts’ rating changes for WFT

From April 17 to July 17, the percentage of analysts recommending a “buy” or some equivalent for WFT has increased from 69.0% to 73.0%. Analysts’ “hold” recommendations have decreased for WFT during this period. On July 17, 2017, approximately 73.0% of sell-side analysts recommended a “buy” for WFT.

Article continues below advertisement

Analysts’ target prices for WFT

Sell-side analysts’ mean target price for WFT on July 17 was $4.40. WFT is currently trading at ~$3.40, implying an ~29.0% upside at its current price. A month ago, analysts’ mean target price for WFT was $4.40.

Target prices for WFT’s peers

The mean target price, surveyed among sell-side analysts, for Dril-Quip (DRQ) was $57.10 on July 17. DRQ is currently trading at ~$43.50, implying an ~24.0% downside at its current price. 

The mean target price, surveyed among sell-side analysts, for Pioneer Energy Services (PES) was $5.00 on July 17. PES is currently trading at $5.25, implying a 5.0% 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.

Advertisement

More From Market Realist