Weatherford International PLC (WFT) stock got hammered October 26 after the company reported a 3Q loss of $1.78 billion, or $1.98 per share, compared with a loss of $170 million, or 22 cents per share, for the third quarter of 2016.
Weatherford shares closed at $5.74 per share Wednesday, down 42 cents, or 6.8%. Keep in mind that WFT was worth $20 per share two years ago.
The level of investor disappointment in Weatherford was about more than the current earnings report.
With its latest 3Q results, WFT continues its trend of missing earnings estimates and losing money for the past two years, analysts expect the company to lose money over the next five years.
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