WEG (OTCMKTS:WEGZY) Posts Earnings Results, Hits Expectations

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

WEG Stock Performance

OTCMKTS WEGZY traded down $0.42 on Wednesday, reaching $9.21. The stock had a trading volume of 4,753 shares, compared to its average volume of 220,090. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.59 and a quick ratio of 1.02. The firm has a fifty day moving average of $9.84 and a two-hundred day moving average of $9.35. WEG has a 1-year low of $7.38 and a 1-year high of $10.80. The company has a market cap of $38.65 billion and a P/E ratio of 32.89.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WEGZY shares. The Goldman Sachs Group upgraded WEG from a “sell” rating to a “neutral” rating in a research note on Tuesday, July 28th. Zacks Research raised shares of WEG to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

About WEG

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.