The Weir Group (LON:WEIR) Issues Earnings Results

Key Points

• The Weir Group reported earnings of GBX 58.70 ($0.78) per share for the quarter, with a net margin of 8.60% and a return on equity of 12.79%.
• Following the earnings announcement, shares of The Weir Group opened at GBX 2,536 ($33.50) and experienced a 4.9% decline.
• Analysts have mixed ratings on the stock, with Deutsche Bank raising its price target to GBX 3,010 ($39.76) while Shore Capital downgraded it to a "hold" rating with a price objective of GBX 2,750 ($36.33).

The Weir Group (LON:WEIR - Get Free Report) released its quarterly earnings results on Thursday. The company reported GBX 58.70 ($0.78) EPS for the quarter, Digital Look Earnings reports. The Weir Group had a return on equity of 12.79% and a net margin of 8.60%.

The Weir Group Price Performance

Shares of The Weir Group stock traded down GBX 8 ($0.11) on Tuesday, reaching GBX 2,478 ($32.93). The company's stock had a trading volume of 1,117,982 shares, compared to its average volume of 1,445,942. The stock has a 50-day moving average price of GBX 2,526.23 and a 200-day moving average price of GBX 2,388.30. The Weir Group has a 52-week low of GBX 1,852 ($24.61) and a 52-week high of GBX 2,710.66 ($36.03). The company has a market capitalization of £6.38 billion, a P/E ratio of 29.12, a PEG ratio of 2.59 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30.

Analyst Ratings Changes

Several equities analysts have commented on the company. Shore Capital downgraded The Weir Group to a "hold" rating and set a GBX 2,750 ($36.55) price objective on the stock. in a research report on Thursday, July 31st. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Weir Group from GBX 2,710 ($36.02) to GBX 3,010 ($40.01) and gave the stock a "buy" rating in a research note on Friday. Finally, Citigroup reaffirmed a "buy" rating and set a GBX 3,100 ($41.20) price target on shares of The Weir Group in a research note on Monday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, The Weir Group has an average rating of "Moderate Buy" and an average price target of GBX 2,718.33 ($36.13).

The Weir Group Company Profile

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.