Weir Group’s (WEIR) “Top pick” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their top pick rating on shares of Weir Group (LON:WEIR) in a research report sent to investors on Monday.

Several other equities research analysts have also issued reports on the stock. Morgan Stanley raised shares of Weir Group to an overweight rating and reduced their target price for the stock from GBX 2,240 ($29.27) to GBX 2,120 ($27.70) in a report on Thursday, September 20th. Barclays reissued an overweight rating and issued a GBX 2,500 ($32.67) target price (down from GBX 2,600 ($33.97)) on shares of Weir Group in a report on Thursday, September 6th. JPMorgan Chase & Co. reissued an overweight rating on shares of Weir Group in a report on Thursday, August 23rd. Jefferies Financial Group reissued a hold rating on shares of Weir Group in a report on Wednesday, September 5th. Finally, Citigroup reduced their target price 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 report on Friday, September 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Weir Group currently has an average rating of Buy and an average target price of GBX 2,271.94 ($29.69).

Weir Group stock opened at GBX 1,623 ($21.21) on Monday. Weir Group has a 12-month low of GBX 1,696 ($22.16) and a 12-month high of GBX 2,326 ($30.39).

Weir Group (LON:WEIR) last released its earnings results on Tuesday, July 31st. The company reported GBX 46.30 ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of GBX 48.20 ($0.63) by GBX (1.90) (($0.02)). Weir Group had a return on equity of 6.86% and a net margin of 4.24%.

The business also recently disclosed a dividend, which will be paid on Friday, November 2nd. Shareholders of record on Thursday, October 11th will be issued a dividend of GBX 15.75 ($0.21) per share. This represents a yield of 0.82%. The ex-dividend date 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.

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Analyst Recommendations for Weir Group (LON:WEIR)

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