WEG (OTCMKTS:WEGZY) Issues Quarterly Earnings Results

WEG (OTCMKTS:WEGZY) announced its earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.08, Zacks reports. WEG had a net margin of 15.58% and a return on equity of 31.02%.

WEG Trading Down 4.5%

WEGZY stock traded down $0.43 during midday trading on Wednesday, reaching $9.20. The stock had a trading volume of 4,210 shares, compared to its average volume of 220,085. The firm has a market cap of $38.62 billion and a price-to-earnings ratio of 32.86. WEG has a twelve month low of $7.38 and a twelve month high of $10.80. The company has a quick ratio of 1.02, a current ratio of 1.59 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $9.84 and a two-hundred day simple moving average of $9.35.

Analyst Upgrades and Downgrades

WEGZY has been the topic of several research analyst reports. Zacks Research raised shares of WEG to a “hold” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group upgraded shares of WEG from a “sell” rating to a “neutral” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold”.

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.