| Over a week ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 10 at 10 am hosted by Benchmark. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 10 at 10 am hosted by Benchmark. | ||||
Virtual Meeting to be… Virtual Meeting to be held on March 10 at 10 am hosted by Benchmark. | ||||
| Over a month ago | ||||
As previously reported,… As previously reported, Benchmark analyst Kurt Hallead initiated coverage of Weatherford with a Buy rating and $88 price target, citing what the analyst sees as the company's strong position to benefit from increased E&P spending on international and offshore projects. The stock is currently trading at 5 times the 2024 street EBITDA estimate, but the analyst thinks strong financial performance and balance sheet deleveraging should lead to a reversion to the mean of 7-9 times. | ||||
Benchmark analyst Kurt… Benchmark analyst Kurt Hallead initiated coverage of Weatherford with a Buy rating and $88 price target. | ||||
Deutsche Bank analyst… Deutsche Bank analyst James Hubbard raised the firm's price target on Weatherford to $77 from $54 and keeps a Buy rating on the shares following its Q4 results. The company reported a Q4 net income of $82M, which was a strong beat versus the consensus of $39M, the analyst tells investors | ||||
Piper Sandler analyst… Piper Sandler analyst Luke Lemoine raised the firm's price target on Weatherford to $93 from $70 and keeps an Overweight rating on the shares. The company's Q4 EBITDA margins were stronger than some of its large cap peers, and it's possible for these to expand into the mid 20% range over the next few years after Weatherford concludes some of the start-up costs and strategic investments, the analyst tells investors in a research note. Piper says the multiple is still very low on the stock. | ||||
Weatherford expects full… Weatherford expects full year 2023 revenue to grow by low double digits to mid-teens year-over-year and for EBITDA margins to expand at least 100 basis points year-over-year. 00 basis points year-over-year. | ||||
Reports Q4 revenue… Reports Q4 revenue $1.21B, consensus $1.15B.Fourth quarter adjusted EBITDA was $266M, a 22.0% margin with a 290 basis point sequential improvement and 73% improvement year-over-year; full year adjusted EBITDA[ of $817M, a 18.9% margin, representing a 43% increase year-over-year and a 320 basis point improvement.. Girish Saligram, President and Chief Executive Officer, commented, "The outstanding results of the fourth quarter 2022 and full year are a concrete marker of the success of our turnaround initiatives for Weatherford. I am incredibly proud of and grateful to our 17,700 One Weatherford team members who have come together to deliver a year of many firsts and excellent operating results. Our commercial wins, revenue growth, margin expansion, and free cash flow are all demonstrative of exceptional performance to close the year with significant momentum. | ||||
Weatherford International… Weatherford International (WFRD) has appointed Arun Mitra as the Company's Executive Vice President and Chief Financial Officer, CFO. Mitra's appointment is effective immediately. Before joining Weatherford, Mitra served as the Executive Vice President and Chief Financial Officer of Mitsubishi Power Americas (MSBHF). | ||||
