Berenberg Bank Trims The Weir Group (LON:WEIR) Target Price to GBX 2,450

The Weir Group (LON:WEIR) had its price objective trimmed by Berenberg Bank from GBX 2,600 ($33.23) to GBX 2,450 ($31.31) in a report published on Tuesday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada lifted their price objective on The Weir Group from GBX 2,475 ($31.63) to GBX 2,500 ($31.95) and gave the company an outperform rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 2,075 ($26.52) price objective on shares of The Weir Group in a report on Tuesday, April 30th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, The Weir Group currently has a consensus rating of Buy and an average target price of GBX 2,301.25 ($29.41).

The Weir Group Price Performance

Shares of The Weir Group stock opened at GBX 1,904 ($24.33) on Tuesday. The business has a 50 day moving average of GBX 1,996.30 and a 200 day moving average of GBX 1,977. The Weir Group has a 52 week low of GBX 1,652.50 ($21.12) and a 52 week high of GBX 2,210.25 ($28.25). The company has a market cap of £4.94 billion, a PE ratio of 2,163.64, a P/E/G ratio of 2.59 and a beta of 1.41. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 82.21.

The Weir Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 3rd will be paid a GBX 17.90 ($0.23) dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a dividend 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.