Willbros Group Inc. (WG) Upgraded by Zacks Investment Research to “Hold”
Willbros Group Inc. (NYSE:WG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Willbros Group, Inc. is an independent contractor serving the oil, gas and power industries, providing construction, engineering and specialty services to industry and government entities worldwide. They place particular emphasis on projects in developing countries where they believe their experience gives them a competitive advantage. “
Several other research analysts have also issued reports on WG. Morgan Stanley raised Willbros Group to an “equal weight” rating in a research report on Friday, June 24th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $1.40 price objective on shares of Willbros Group in a research report on Tuesday, August 2nd.
Willbros Group (NYSE:WG) opened at 1.89 on Tuesday. Willbros Group has a 52-week low of $1.11 and a 52-week high of $3.43. The firm has a 50-day moving average price of $1.91 and a 200 day moving average price of $2.38. The stock has a market cap of $118.34 million, a PE ratio of 2.97 and a beta of 2.18.
Willbros Group (NYSE:WG) last announced its earnings results on Friday, July 29th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Willbros Group had a negative return on equity of 26.76% and a net margin of 4.40%. The firm earned $193.44 million during the quarter, compared to analyst estimates of $208.83 million. During the same quarter in the prior year, the company earned ($0.32) EPS. The business’s revenue was down 11.6% compared to the same quarter last year. On average, analysts forecast that Willbros Group will post ($0.42) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers bought a new position in Willbros Group during the second quarter worth $124,000. Nationwide Fund Advisors increased its stake in shares of Willbros Group by 566.9% in the second quarter. Nationwide Fund Advisors now owns 53,471 shares of the company’s stock valued at $135,000 after buying an additional 45,453 shares in the last quarter. Teachers Advisors Inc. acquired a new stake in shares of Willbros Group during the second quarter valued at approximately $168,000. Schwab Charles Investment Management Inc. acquired a new stake in shares of Willbros Group during the second quarter valued at approximately $176,000. Finally, Acadian Asset Management LLC increased its stake in shares of Willbros Group by 1,353.4% in the second quarter. Acadian Asset Management LLC now owns 74,487 shares of the company’s stock valued at $187,000 after buying an additional 69,362 shares in the last quarter. 60.89% of the stock is owned by institutional investors.
About Willbros Group
Willbros Group, Inc (Willbros) is a specialty energy infrastructure contractor serving the oil, gas, refining, petrochemical and power industries. The Company’s offerings include construction, maintenance and facilities development services. The Company operates through three segments: Oil & Gas, Utility T&D and Canada.
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