George Weston (OTCMKTS:WNGRF) Shares Gap Down Following Weak Earnings

George Weston Ltd. (OTCMKTS:WNGRF) gapped down before the market opened on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $73.11, but opened at $69.3306. George Weston shares last traded at $69.34, with a volume of 733 shares trading hands.

The company reported $0.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.04). The firm had revenue of $12.04 billion during the quarter, compared to the consensus estimate of $16.89 billion. George Weston had a return on equity of 13.71% and a net margin of 1.71%.

Analyst Ratings Changes

Several analysts recently commented on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of George Weston in a research note on Monday, November 17th. Desjardins reiterated a “buy” rating on shares of George Weston in a research report on Monday, November 17th. BMO Capital Markets reissued a “market perform” rating on shares of George Weston in a research note on Monday, November 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of George Weston in a research note on Monday, November 17th. Finally, Scotiabank reissued a “sector perform” rating on shares of George Weston in a report on Monday, November 17th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

George Weston Price Performance

The company has a market capitalization of $26.17 billion, a PE ratio of 34.03 and a beta of 0.55. The company’s 50-day simple moving average is $70.94 and its 200-day simple moving average is $66.49. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.80 and a current ratio of 1.42.

George Weston Company Profile

George Weston Limited (OTCMKTS:WNGRF) is a Canadian diversified food processing and distribution company with principal interests in grocery retail and baked goods. The company operates primarily through its controlling ownership of Loblaw Companies Limited, one of Canada’s largest food retailers, and through its Weston Foods bakery operations. Its business model spans product manufacturing, retailing, and associated services that support grocery operations and consumer packaged goods distribution.

Through its ownership stake in Loblaw, George Weston is connected to a wide array of retail banners, pharmacy operations and private-label brands that serve Canadian consumers, including national supermarket formats and in-store pharmacy and financial services.