Weir Group PLC (LON:WEIR) shares hit a new 52-week low on Thursday . The stock traded as low as GBX 1,613 ($20.81) and last traded at GBX 1,632 ($21.05), with a volume of 3340394 shares trading hands. The stock had previously closed at GBX 1,786 ($23.04).
WEIR has been the topic of several analyst reports. Peel Hunt reiterated a “buy” rating and issued a GBX 2,450 ($31.60) target price on shares of Weir Group in a research note on Thursday. BNP Paribas reiterated a “neutral” rating and issued a GBX 2,300 ($29.67) target price on shares of Weir Group in a research note on Monday, June 11th. Credit Suisse Group upgraded Weir Group to an “outperform” rating and set a GBX 2,200 ($28.38) target price on the stock in a research note on Tuesday, August 21st. UBS Group upgraded Weir Group to a “buy” rating and lifted their target price for the company from GBX 2,170 ($27.99) to GBX 2,500 ($32.25) in a research note on Monday, July 9th. Finally, Royal Bank of Canada raised Weir Group to a “top pick” rating in a report on Monday, July 9th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of GBX 2,297.63 ($29.64).
Weir Group (LON:WEIR) last posted its quarterly earnings results on Tuesday, July 31st. The company reported GBX 46.30 ($0.60) EPS for the quarter, missing the consensus estimate of GBX 48.20 ($0.62) by GBX (1.90) (($0.02)). Weir Group had a net margin of 4.24% and a return on equity of 6.86%.
The firm also recently declared a dividend, which will be paid on Friday, November 2nd. Stockholders of record on Thursday, October 11th will be issued a GBX 15.75 ($0.20) dividend. The ex-dividend date is Thursday, October 11th. This represents a dividend yield of 0.82%.
In other news, insider JIm McDonald acquired 500 shares of Weir Group stock in a transaction that occurred on Friday, June 22nd. The stock was purchased at an average cost of GBX 1,979 ($25.53) per share, with a total value of £9,895 ($12,764.45).
About Weir Group (LON:WEIR)
The Weir Group PLC designs, manufactures, and sells highly-engineered products and services worldwide. It operates through three segments: Minerals, Oil & Gas, and Flow Control. The Minerals segment engineers pumps, valves, rubber, crushers, screen media systems, screens, hose and pipe pools, centrifuges, pontoons and barges, hydrocyclones, wear linings, mill liners, feeders, conveyors, and washers; and offers slurry handling equipment and associated aftermarket support services for mining, and oil sands markets.
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