Zacks Investment Research Upgrades Willbros Group Inc. (WG) to Hold
Willbros Group Inc. (NYSE:WG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Willbros Group, Inc. is an independent contractor serving the oil, gas and power industries, providing construction, engineering and specialty services to industry and government entities worldwide. They place particular emphasis on projects in developing countries where they believe their experience gives them a competitive advantage. “
A number of other equities research analysts also recently weighed in on WG. Morgan Stanley upgraded Willbros Group to an “equal weight” rating in a research report on Friday, June 24th. Credit Suisse Group AG reiterated a “sell” rating and set a $1.90 price objective on shares of Willbros Group in a research report on Sunday, June 5th.
Shares of Willbros Group (NYSE:WG) opened at 1.79 on Tuesday. The stock has a market cap of $112.08 million, a P/E ratio of 2.81 and a beta of 2.41. The company’s 50-day moving average is $1.89 and its 200-day moving average is $2.39. Willbros Group has a 12-month low of $1.11 and a 12-month high of $3.43.
Willbros Group (NYSE:WG) last released its earnings results on Friday, July 29th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). The firm earned $193.44 million during the quarter, compared to the consensus estimate of $208.83 million. Willbros Group had a negative return on equity of 26.76% and a net margin of 4.40%. The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. On average, equities research analysts anticipate that Willbros Group will post ($0.42) earnings per share for the current year.
Several large investors have recently made changes to their positions in WG. Royce & Associates LP increased its stake in shares of Willbros Group by 44.7% in the first quarter. Royce & Associates LP now owns 955,309 shares of the company’s stock worth $2,035,000 after buying an additional 295,281 shares during the period. Renaissance Technologies LLC increased its stake in shares of Willbros Group by 35.0% in the first quarter. Renaissance Technologies LLC now owns 558,319 shares of the company’s stock worth $1,189,000 after buying an additional 144,619 shares during the period. Acadian Asset Management LLC increased its stake in shares of Willbros Group by 1,353.4% in the second quarter. Acadian Asset Management LLC now owns 74,487 shares of the company’s stock worth $187,000 after buying an additional 69,362 shares during the period. Strs Ohio bought a new stake in shares of Willbros Group during the second quarter worth approximately $312,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Willbros Group by 184.5% in the second quarter. Bank of New York Mellon Corp now owns 146,047 shares of the company’s stock worth $369,000 after buying an additional 94,709 shares during the period. Institutional investors own 60.89% of the company’s stock.
About Willbros Group
Willbros Group, Inc (Willbros) is a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. The Company’s offerings include construction, maintenance and facilities development services. The Company operates through three segments: Oil & Gas, Utility T&D and Canada.
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