The Weir Group (LON:WEIR) Stock Passes Below 200-Day Moving Average of $1,984.69

The Weir Group PLC (LON:WEIR)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 1,984.69 ($26.17) and traded as low as GBX 1,925.95 ($25.40). The Weir Group shares last traded at GBX 1,927 ($25.41), with a volume of 352,073 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WEIR shares. Shore Capital reissued a “buy” rating on shares of The Weir Group in a report on Tuesday, August 20th. Royal Bank of Canada increased their price target on shares of The Weir Group from GBX 2,475 ($32.64) to GBX 2,500 ($32.97) and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 2,075 ($27.36) price objective on shares of The Weir Group in a research report on Tuesday, April 30th. Finally, Berenberg Bank decreased their price objective on The Weir Group from GBX 2,600 ($34.29) to GBX 2,450 ($32.31) and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of GBX 2,301.25 ($30.35).

The Weir Group Stock Performance

The company has a current ratio of 2.07, a quick ratio of 1.16 and a debt-to-equity ratio of 79.85. The company has a market cap of £5.01 billion, a price-to-earnings ratio of 2,267.06, a P/E/G ratio of 2.59 and a beta of 1.40. The stock has a 50 day moving average price of GBX 1,953.05 and a two-hundred day moving average price of GBX 1,984.69.

The Weir Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 3rd will be paid a GBX 17.90 ($0.24) dividend. This represents a yield of 0.93%. The ex-dividend date of this dividend is Thursday, October 3rd. The Weir Group’s payout ratio is 4,588.24%.

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.