The Weir Group (LON:WEIR) Receives "Buy" Rating from Citigroup

Key Points

• Citigroup has reaffirmed its "buy" rating for The Weir Group (LON:WEIR) and set a target price of GBX 3,100 ($41.16), indicating a potential upside of 24.7% from the company's previous close.
• Other analysts' ratings vary, with Shore Capital downgrading the stock to a "hold" rating and Deutsche Bank raising its target from GBX 2,710 ($35.98) to GBX 3,010 ($39.97) while maintaining a "buy" rating."
• The Weir Group reported earnings of GBX 58.70 ($0.78) per share for the last quarter, and it has a current consensus rating of "Moderate Buy" from analysts.

The Weir Group (LON:WEIR - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Citigroup in a note issued to investors on Monday,London Stock Exchange reports. They currently have a GBX 3,100 ($41.16) target price on the stock. Citigroup's price target points to a potential upside of 24.70% from the company's previous close.

Several other research analysts have also recently weighed in on WEIR. Shore Capital cut The Weir Group to a "hold" rating and set a GBX 2,750 ($36.52) target price on the stock. in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on The Weir Group from GBX 2,710 ($35.98) to GBX 3,010 ($39.97) and gave the stock a "buy" rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,718.33 ($36.10).

The Weir Group Trading Down 0.6%

Shares of WEIR opened at GBX 2,486.03 ($33.01) on Monday. The Weir Group has a 52-week low of GBX 1,832 ($24.33) and a 52-week high of GBX 2,710.66 ($35.99). The stock has a market cap of £6.40 billion, a PE ratio of 29.21, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The firm's fifty day moving average is GBX 2,523.23 and its two-hundred day moving average is GBX 2,387.09. The company has a quick ratio of 1.16, a current ratio of 2.07 and a debt-to-equity ratio of 80.30.

The Weir Group (LON:WEIR - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported GBX 58.70 ($0.78) earnings per share for the quarter. The Weir Group had a net margin of 8.60% and a return on equity of 12.79%. Research analysts forecast that The Weir Group will post 136.0509554 earnings per share for the current fiscal year.

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.

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