Weir Group PLC (WEIR) Coverage Initiated at Credit Suisse Group AG
Stock analysts at Credit Suisse Group AG began coverage on shares of Weir Group PLC (LON:WEIR) in a research note issued on Tuesday. The brokerage set an “outperform” rating and a GBX 1,800 ($23.50) price target on the stock. Credit Suisse Group AG’s target price suggests a potential upside of 13.78% from the company’s current price.
A number of other equities analysts have also issued reports on the company. Canaccord Genuity lowered Weir Group PLC to a “sell” rating and cut their target price for the company from GBX 1,325 ($17.30) to GBX 1,250 ($16.32) in a research report on Friday, July 29th. Goldman Sachs Group Inc. cut their target price on Weir Group PLC from GBX 1,750 ($22.84) to GBX 1,576 ($20.57) and set a “buy” rating on the stock in a research report on Wednesday, September 7th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a GBX 735 ($9.59) target price on shares of Weir Group PLC in a research report on Monday, May 23rd. HSBC reaffirmed a “buy” rating and issued a GBX 1,500 ($19.58) target price on shares of Weir Group PLC in a research report on Thursday, June 30th. Finally, Numis Securities Ltd reaffirmed a “hold” rating and issued a GBX 1,400 ($18.27) target price on shares of Weir Group PLC in a research report on Friday, August 12th. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Weir Group PLC currently has a consensus rating of “Hold” and an average target price of GBX 1,305.06 ($17.04).
Weir Group PLC (LON:WEIR) opened at 1598.00 on Tuesday. Weir Group PLC has a 52-week low of GBX 764.50 and a 52-week high of GBX 1,646.00. The stock’s market capitalization is GBX 3.42 billion. The company has a 50-day moving average of GBX 1,539.44 and a 200-day moving average of GBX 1,312.69.
The firm also recently declared a dividend, which will be paid on Friday, November 4th. Stockholders of record on Thursday, September 22nd will be paid a GBX 15 ($0.20) dividend. The ex-dividend date is Thursday, September 22nd. This represents a dividend yield of 1.03%.
About Weir Group PLC
The Weir Group PLC is engaged in engineering businesses. The Company operates through three segments: Minerals, Oil & Gas, and Power & Industrial. The Minerals segment is engaged in the provision of slurry handling equipment and associated aftermarket support for abrasive high wear applications used in the mining and oil sands markets.
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