WEG (OTCMKTS:WEGZY) Announces Earnings Results, Meets Estimates

WEG (OTCMKTS:WEGZY) announced its earnings results on Wednesday. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. WEG had a net margin of 15.58% and a return on equity of 31.02%.

WEG Trading Down 6.6%

WEG stock opened at $8.99 on Thursday. The business has a 50 day moving average price of $9.83 and a two-hundred day moving average price of $9.35. The company has a quick ratio of 1.02, a current ratio of 1.59 and a debt-to-equity ratio of 0.12. WEG has a 12 month low of $7.38 and a 12 month high of $10.80. The stock has a market cap of $37.75 billion and a price-to-earnings ratio of 34.39.

Wall Street Analyst Weigh In

Several research firms have issued reports on WEGZY. Zacks Research upgraded shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of WEG from a “sell” rating to a “neutral” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

WEG Company Profile

WEG SA is a Brazilian industrial company that designs and manufactures electrical and electromechanical equipment. Its product portfolio includes electric motors, generators, transformers, drives, controls, automation systems, switchgear and other equipment used in industrial, commercial and infrastructure applications.

The company also provides solutions for electrical power generation, transmission and distribution, renewable energy, industrial automation and energy efficiency. WEG serves customers in industries such as oil and gas, mining, water and wastewater, manufacturing, transportation, utilities and construction.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has expanded from its domestic manufacturing base into an international business with operations, production facilities and sales networks serving customers across the Americas, Europe, Asia, Africa and Oceania.