Wall Street’s Forecasts for WFT before Q2 2018 Earnings

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

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.

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.

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.

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.