Weir Group (LON:WEIR) Lifted to “Overweight” at Morgan Stanley

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Morgan Stanley upgraded shares of Weir Group (LON:WEIR) to an overweight rating in a research report report published on Thursday, September 20th. They currently have GBX 2,120 ($27.70) price objective on the stock, down from their previous price objective of GBX 2,240 ($29.27).

Several other equities research analysts also recently commented on the stock. Barclays reissued an overweight rating and set a GBX 2,500 ($32.67) target price (down from GBX 2,600 ($33.97)) on shares of Weir Group in a research report on Thursday, September 6th. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Weir Group in a research report on Thursday, August 23rd. Jefferies Financial Group reaffirmed a hold rating on shares of Weir Group in a research report on Wednesday, September 5th. Citigroup reduced their price objective on shares of 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 report on Friday, September 7th. Finally, Credit Suisse Group raised shares of Weir Group to an outperform rating and set a GBX 2,200 ($28.75) price objective for the company in a research report on Tuesday, August 21st. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Weir Group currently has an average rating of Buy and a consensus price target of GBX 2,277.50 ($29.76).

WEIR stock traded up GBX 47.50 ($0.62) during midday trading on Thursday, hitting GBX 1,645 ($21.49). The stock had a trading volume of 1,714,944 shares, compared to its average volume of 1,360,000. Weir Group has a 1-year low of GBX 1,696 ($22.16) and a 1-year high of GBX 2,326 ($30.39).

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 for the quarter, missing the 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 declared a dividend, which will be paid on Friday, November 2nd. Investors of record on Thursday, October 11th will be paid a dividend of GBX 15.75 ($0.21) per share. This represents a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, October 11th.

About Weir Group

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.

Read More: Price to Earnings Ratio (PE)

Analyst Recommendations for Weir Group (LON:WEIR)

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