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Weatherford (WFRD) Outpaces Stock Market Gains: What You Should Know
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Weatherford (WFRD - Free Report) closed at $66.42 in the latest trading session, marking a +1.54% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the oilfield service company had gained 10.28% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Weatherford will be looking to display strength as it nears its next earnings release. On that day, Weatherford is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 1218.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.23 billion, up 16.02% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.78 per share and revenue of $4.99 billion. These totals would mark changes of +455.81% and +15.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Weatherford. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 1.88% lower within the past month. Weatherford is currently a Zacks Rank #3 (Hold).
Investors should also note Weatherford's current valuation metrics, including its Forward P/E ratio of 13.7. For comparison, its industry has an average Forward P/E of 14.61, which means Weatherford is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WFRD in the coming trading sessions, be sure to utilize Zacks.com.
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Weatherford (WFRD) Outpaces Stock Market Gains: What You Should Know
Weatherford (WFRD - Free Report) closed at $66.42 in the latest trading session, marking a +1.54% move from the prior day. This move outpaced the S&P 500's daily gain of 1.23%. Meanwhile, the Dow gained 0.84%, and the Nasdaq, a tech-heavy index, lost 2.24%.
Coming into today, shares of the oilfield service company had gained 10.28% in the past month. In that same time, the Oils-Energy sector gained 3.61%, while the S&P 500 gained 4.67%.
Weatherford will be looking to display strength as it nears its next earnings release. On that day, Weatherford is projected to report earnings of $1.23 per share, which would represent year-over-year growth of 1218.18%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.23 billion, up 16.02% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.78 per share and revenue of $4.99 billion. These totals would mark changes of +455.81% and +15.26%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Weatherford. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 1.88% lower within the past month. Weatherford is currently a Zacks Rank #3 (Hold).
Investors should also note Weatherford's current valuation metrics, including its Forward P/E ratio of 13.7. For comparison, its industry has an average Forward P/E of 14.61, which means Weatherford is trading at a discount to the group.
The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 237, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow WFRD in the coming trading sessions, be sure to utilize Zacks.com.