WEG (OTCMKTS:WEGZY) Issues Quarterly Earnings Results

WEG (OTCMKTS:WEGZY) announced its quarterly earnings data on Wednesday. The company reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07, Zacks reports. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.94 billion.

WEG Stock Performance

WEG stock traded down $0.02 during midday trading on Thursday, reaching $9.51. 3,920 shares of the stock were exchanged, compared to its average volume of 60,744. WEG has a 52 week low of $6.40 and a 52 week high of $10.80. The firm has a market cap of $39.92 billion and a PE ratio of 7.70. The company’s fifty day moving average is $8.85 and its 200-day moving average is $9.27.

Analyst Upgrades and Downgrades

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

About WEG

WEG SA, trading in the U.S. over-the-counter as WEGZY, is a Brazilian multinational corporation specializing in the manufacture and distribution of electric motors, automation technologies and power generation equipment. The company’s portfolio spans low-, medium- and high-voltage electric machines, variable frequency drives and control systems designed for a wide array of industrial applications. WEG also offers transformer solutions and integrated automation products that support sectors including oil and gas, mining, pulp and paper, and infrastructure.

Founded in 1961 in Jaraguá do Sul, Brazil, WEG has grown from a small electric motor shop into one of the world’s largest industrial equipment manufacturers.