WEG (OTCMKTS:WEGZY) Shares Gap Up – Here’s Why

Weg S.A. (OTCMKTS:WEGZY) shares gapped up before the market opened on Thursday. The stock had previously closed at $9.74, but opened at $10.16. WEG shares last traded at $9.89, with a volume of 1,775 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. The Goldman Sachs Group raised WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. Zacks Research raised WEG to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

WEG Price Performance

The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.59. The stock has a market capitalization of $41.26 billion and a P/E ratio of 35.11. The stock has a 50-day simple moving average of $9.82 and a 200 day simple moving average of $9.35.

WEG (OTCMKTS:WEGZY) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion. WEG had a return on equity of 31.02% and a net margin of 15.58%. On average, equities analysts forecast that Weg S.A. will post 0.32 earnings per share for the current fiscal year.

WEG Company Profile

WEG SA is a Brazil-based industrial company that develops and manufactures electrical equipment, systems and technologies for industrial, commercial and infrastructure applications. Its product portfolio includes electric motors, generators, alternators, transformers, drives, controls, automation equipment and solutions for electrical power transmission and distribution.

The company also produces industrial coatings, paints and varnishes, as well as equipment and systems used in renewable energy, including wind and solar power applications.