Weir Group (WEIR) Hits New 52-Week Low at $1,537.50

Weir Group PLC (LON:WEIR) shares reached a new 52-week low during trading on Thursday . The company traded as low as GBX 1,537.50 ($20.09) and last traded at GBX 1,597.50 ($20.87), with a volume of 1929645 shares trading hands. The stock had previously closed at GBX 1,578.25 ($20.62).

WEIR has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Weir Group from GBX 2,200 ($28.75) to GBX 2,060 ($26.92) and set an “overweight” rating for the company in a research note on Friday, September 7th. UBS Group reiterated a “buy” rating and set a GBX 2,400 ($31.36) price objective (down previously from GBX 2,500 ($32.67)) on shares of Weir Group in a research note on Friday, August 3rd. HSBC reiterated a “buy” rating and set a GBX 2,500 ($32.67) price objective on shares of Weir Group in a research note on Monday, October 8th. Liberum Capital reiterated a “buy” rating on shares of Weir Group in a research note on Tuesday, July 31st. Finally, Citigroup lowered their price objective on Weir Group from GBX 2,600 ($33.97) to GBX 2,500 ($32.67) and set a “buy” rating for the company in a research note on Friday, September 7th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of GBX 2,277.50 ($29.76).

Weir Group (LON:WEIR) last announced its quarterly earnings data on Tuesday, July 31st. The company reported GBX 46.30 ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of GBX 48.20 ($0.63) 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 announced a dividend, which will be paid on Friday, November 2nd. Shareholders of record on Thursday, October 11th will be issued a GBX 15.75 ($0.21) dividend. This represents a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, October 11th.

Weir Group Company Profile (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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