Royal Bank of Canada Boosts The Weir Group (LON:WEIR) Price Target to GBX 2,500

The Weir Group (LON:WEIR) had its price target lifted by Royal Bank of Canada from GBX 2,475 ($31.84) to GBX 2,500 ($32.16) in a research report released on Wednesday, MarketBeat reports. The firm currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on WEIR. JPMorgan Chase & Co. reaffirmed an overweight rating and issued a GBX 2,075 ($26.69) target price on shares of The Weir Group in a report on Tuesday, April 30th. Berenberg Bank reaffirmed a buy rating and issued a GBX 2,600 ($33.44) price objective on shares of The Weir Group in a research note on Tuesday, May 21st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, The Weir Group presently has an average rating of Buy and a consensus price target of GBX 2,338.75 ($30.08).

The Weir Group Price Performance

LON WEIR opened at GBX 1,909 ($24.56) on Wednesday. The company has a debt-to-equity ratio of 82.21, a current ratio of 2.04 and a quick ratio of 1.16. The Weir Group has a 1-year low of GBX 1,652.50 ($21.26) and a 1-year high of GBX 2,210.25 ($28.43). The stock has a market capitalization of £4.96 billion, a price-to-earnings ratio of 2,169.32, a PEG ratio of 2.59 and a beta of 1.41. The business’s fifty day moving average price is GBX 2,012.53 and its 200-day moving average price is GBX 1,973.36.

The Weir Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 3rd will be given a GBX 17.90 ($0.23) dividend. The ex-dividend date is Thursday, October 3rd. This represents a yield of 0.93%. The Weir Group’s dividend payout ratio is currently 4,431.82%.

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.