WEG (OTCMKTS:WEGZY) Issues Earnings Results, Hits Estimates
by Tristan Rich · The Markets DailyWEG (OTCMKTS:WEGZY – Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.08 earnings per share for the quarter, hitting the consensus estimate of $0.08, Zacks reports. WEG had a return on equity of 32.99% and a net margin of 15.39%. The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion.
WEG Stock Performance
Shares of WEG stock opened at $8.71 on Friday. The business has a 50-day moving average of $9.82 and a 200 day moving average of $9.34. WEG has a 12 month low of $7.55 and a 12 month high of $10.80. The stock has a market capitalization of $36.58 billion and a price-to-earnings ratio of 31.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.59 and a quick ratio of 1.02.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on WEGZY shares. 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 shares of 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.
View Our Latest Stock Report on WEGZY
WEG Company Profile
WEG SA is a Brazilian industrial company that designs and manufactures electrical and electromechanical equipment. Its product portfolio includes electric motors, generators, transformers, drives, controls, automation systems, switchgear and other equipment used in industrial, commercial and infrastructure applications.
The company also provides solutions for electrical power generation, transmission and distribution, renewable energy, industrial automation and energy efficiency. WEG serves customers in industries such as oil and gas, mining, water and wastewater, manufacturing, transportation, utilities and construction.
Founded in 1961 in Jaraguá do Sul, Brazil, WEG has expanded from its domestic manufacturing base into an international business with operations, production facilities and sales networks serving customers across the Americas, Europe, Asia, Africa and Oceania.