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 raised by Royal Bank of Canada from GBX 2,475 ($31.84) to GBX 2,500 ($32.16) in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also commented on the stock. Berenberg Bank reaffirmed a buy rating and set a GBX 2,600 ($33.44) price target on shares of The Weir Group in a research report on Tuesday, May 21st. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 2,075 ($26.69) price target on shares of The Weir Group in a research report on Tuesday, April 30th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of Buy and a consensus price target of GBX 2,338.75 ($30.08).

The Weir Group Stock Performance

Shares of WEIR stock opened at GBX 1,909 ($24.56) on Wednesday. The Weir Group has a 12 month low of GBX 1,652.50 ($21.26) and a 12 month high of GBX 2,210.25 ($28.43). The stock 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 company has a current ratio of 2.04, a quick ratio of 1.16 and a debt-to-equity ratio of 82.21. The company’s fifty day moving average price is GBX 2,012.53 and its 200-day moving average price is GBX 1,974.30.

The Weir Group Cuts Dividend

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