Citigroup Issues Pessimistic Forecast for The Weir Group (LON:WEIR) Stock Price

Key Points

• Citigroup cut its price target on The Weir Group from GBX 3,550 to GBX 3,500 but maintained a "buy" rating, implying roughly a 14.69% upside from the previous close.
• Overall analyst sentiment is positive (six Buys, one Hold) with a MarketBeat consensus rating of "Moderate Buy" and a consensus target of GBX 3,446; the stock traded near GBX 3,051.60 (down ~1.5%), with a market cap of about £7.92bn and a P/E of ~32.1.

The Weir Group (LON:WEIR - Get Free Report) had its price objective dropped by equities research analysts at Citigroup from GBX 3,550 to GBX 3,500 in a research report issued to clients and investors on Monday,Digital Look reports. The firm currently has a "buy" rating on the stock. Citigroup's price target points to a potential upside of 14.69% from the company's previous close.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. raised their price objective on The Weir Group from GBX 3,450 to GBX 3,800 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Shore Capital Group restated a "hold" rating on shares of The Weir Group in a research note on Wednesday, March 4th. Royal Bank Of Canada restated a "buy" rating and issued a GBX 4,000 price objective on shares of The Weir Group in a research note on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on The Weir Group from GBX 3,280 to GBX 3,723 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of GBX 3,446.14.

The Weir Group Trading Down 1.5%

Shares of LON:WEIR opened at GBX 3,051.60 on Monday. The Weir Group has a 52-week low of GBX 2,118 and a 52-week high of GBX 3,580. The stock has a market cap of £7.92 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.59 and a beta of 1.17. The company has a quick ratio of 1.16, a current ratio of 2.05 and a debt-to-equity ratio of 93.56. The business has a 50-day moving average price of GBX 3,136.57 and a 200-day moving average price of GBX 2,979.01.

The Weir Group (LON:WEIR - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported GBX 123.80 earnings per share (EPS) for the quarter. The Weir Group had a return on equity of 13.42% and a net margin of 9.63%. Equities analysts predict that The Weir Group will post 136.0509554 EPS for the current year.

About The Weir Group

The Weir Group PLC produces and sells highly engineered original equipment worldwide. It operates in two segments, Minerals and ESCO. The Minerals segment offers engineering, manufacturing, and service processing technology for the use in abrasive high-wear mining applications; and differentiated technology for the use in infrastructure and general industrial markets. The ESCO segment provides ground engaging tools for large mining machines. This segment also offers cloud-based Artificial Intelligence solutions to the mining industry; manufactures and distributes highly engineered wear parts; and offers aftermarket services to the mining industry.

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