Royal Bank of Canada Boosts The Weir Group (LON:WEIR) Price Target to GBX 2,500

The Weir Group (LON:WEIR) had its target price hoisted by Royal Bank of Canada from GBX 2,475 ($31.84) to GBX 2,500 ($32.16) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also issued research reports about the stock. Berenberg Bank reiterated a buy rating and issued a GBX 2,600 ($33.44) price objective on shares of The Weir Group in a report on Tuesday, May 21st. JPMorgan Chase & Co. reiterated an overweight rating and issued a GBX 2,075 ($26.69) price objective on shares of The Weir Group in a report on Tuesday, April 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and an average price target of GBX 2,338.75 ($30.08).

The Weir Group Stock Down 3.6 %

Shares of LON WEIR opened at GBX 1,909 ($24.56) on Wednesday. The company has a 50 day simple moving average of GBX 2,012.53 and a 200 day simple moving average of GBX 1,974.30. The firm has a market cap of £4.96 billion, a PE ratio of 2,169.32, a price-to-earnings-growth ratio of 2.59 and a beta of 1.41. The Weir Group has a 1 year low of GBX 1,652.50 ($21.26) and a 1 year high of GBX 2,210.25 ($28.43). The company has a debt-to-equity ratio of 82.21, a current ratio of 2.04 and a quick ratio of 1.16.

The Weir Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 3rd will be given a dividend of GBX 17.90 ($0.23) per share. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s dividend payout ratio is presently 4,431.82%.

About The Weir Group

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.