In last trading session, Weatherford International plc (NASDAQ:WFRD) saw 13.81 million shares changing hands with its beta currently measuring 2.06. Company’s recent per share price level of $96.71 trading at $1.52 or 1.60% at ring of the bell on the day assigns it a market valuation of $6.91B. That closing price of WFRD’s stock is at a discount of -2.08% from its 52-week high price of $98.72 and is indicating a premium of 71.03% from its 52-week low price of $28.02. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.36 million shares which gives us an average trading volume of 847.97K if we extend that period to 3-months.
For Weatherford International plc (WFRD), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.80. Splitting up the data highlights that, out of 6 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 5 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of $1.45 in the current quarter.
Weatherford International plc (NASDAQ:WFRD) trade information
Upright in the green during last session for gaining 1.60%, in the last five days WFRD remained trading in the green while hitting it’s week-highest on Tuesday, 09/12/23 when the stock touched $96.71 price level, adding 2.04% to its value on the day. Weatherford International plc’s shares saw a change of 89.93% in year-to-date performance and have moved 2.59% in past 5-day. Weatherford International plc (NASDAQ:WFRD) showed a performance of 14.11% in past 30-days. Number of shares sold short was 2.6 million shares which calculate 4.22 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $110.83 to the stock, which implies a rise of 12.74% to its current value. Analysts have been projecting $100.00 as a low price target for the stock while placing it at a high target of $127.00. It follows that stock’s current price would drop -31.32% in reaching the projected high whereas dropping to the targeted low would mean a loss of -3.4% for stock’s current value.
Weatherford International plc (WFRD) estimates and forecasts
Statistics highlight that Weatherford International plc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 77.25% of value to its shares in past 6 months, showing an annual growth rate of 462.79% while that of industry is 19.10. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 271.80% in the current quarter and calculating 55.60% increase in the next quarter. This year revenue growth is estimated to rise 17.10% from the last financial year’s standing.
6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $1.29 billion for the same. And 6 analysts are in estimates of company making revenue of $1.33 billion in the next quarter that will end on Dec 2023. Company posted $1.1 billion and $1.21 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 17.20% while estimating it to be 10.00% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 16.30% during past 5 years.
Weatherford International plc is more likely to be releasing its next quarterly report between October 23 and October 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Weatherford International plc (NASDAQ:WFRD)’s Major holders
Insiders are in possession of 8.64% of company’s total shares while institution are holding 100.92 percent of that, with stock having share float percentage of 110.46%. Investors also watch the number of corporate investors in a company very closely, which is 100.92% institutions for Weatherford International plc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at WFRD for having 7.66 million shares of worth $509.11 million. And as of Jun 29, 2023, it was holding 10.64% of the company’s outstanding shares.
The second largest institutional holder is Capital Research Global Investors, which was holding about 6.13 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.51% of outstanding shares, having a total worth of $407.35 million.
On the other hand, Growth Fund Of America Inc and AMG Yacktman Fd are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 4.55 million shares of worth $302.42 million or 6.32% of the total outstanding shares. The later fund manager was in possession of 2.5 million shares on Jun 29, 2023, making its stake of worth around $166.05 million in the company or a holder of 3.47% of company’s stock.