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Weatherford (WFRD) Stock Sinks As Market Gains: What You Should Know
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Weatherford (WFRD - Free Report) closed the most recent trading day at $64.04, moving -1.79% from the previous trading session. This change lagged the S&P 500's 0.33% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the oilfield service company had gained 25.82% in the past month. In that same time, the Oils-Energy sector gained 6.24%, while the S&P 500 gained 5.67%.
Weatherford will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. On that day, Weatherford is projected to report earnings of $0.91 per share, which would represent year-over-year growth of 254.24%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 20.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.99 per share and revenue of $4.89 billion, which would represent changes of +363.95% and +12.8%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Weatherford. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Weatherford is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Weatherford has a Forward P/E ratio of 16.34 right now. For comparison, its industry has an average Forward P/E of 12.33, which means Weatherford is trading at a premium to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Weatherford (WFRD) Stock Sinks As Market Gains: What You Should Know
Weatherford (WFRD - Free Report) closed the most recent trading day at $64.04, moving -1.79% from the previous trading session. This change lagged the S&P 500's 0.33% gain on the day. Elsewhere, the Dow gained 0.3%, while the tech-heavy Nasdaq added 1.92%.
Coming into today, shares of the oilfield service company had gained 25.82% in the past month. In that same time, the Oils-Energy sector gained 6.24%, while the S&P 500 gained 5.67%.
Weatherford will be looking to display strength as it nears its next earnings release, which is expected to be April 26, 2023. On that day, Weatherford is projected to report earnings of $0.91 per share, which would represent year-over-year growth of 254.24%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 20.68% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.99 per share and revenue of $4.89 billion, which would represent changes of +363.95% and +12.8%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Weatherford. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Weatherford is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Weatherford has a Forward P/E ratio of 16.34 right now. For comparison, its industry has an average Forward P/E of 12.33, which means Weatherford is trading at a premium to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.