Zacks Investment Research Upgrades Willbros Group Inc. (WG) to Hold
Willbros Group Inc. (NYSE:WG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
WG has been the topic of a number of other reports. Morgan Stanley raised Willbros Group to an “equal weight” rating in a research report on Friday, June 24th. Credit Suisse Group AG reiterated a “sell” rating and set a $1.40 price target on shares of Willbros Group in a report on Tuesday, August 2nd.
Willbros Group (NYSE:WG) last issued its earnings results on Friday, July 29th. The company reported ($0.09) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.09). Willbros Group had a negative return on equity of 26.76% and a net margin of 4.40%. The company had revenue of $193.44 million for the quarter, compared to analyst estimates of $208.83 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. Willbros Group’s revenue for the quarter was down 11.6% on a year-over-year basis.
A number of large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. bought a new stake in shares of Willbros Group during the second quarter valued at about $176,000. A.R.T. Advisors LLC increased its position in shares of Willbros Group by 124.7% in the second quarter. A.R.T. Advisors LLC now owns 90,816 shares of the company’s stock worth $229,000 after buying an additional 50,400 shares during the period. Bridgeway Capital Management Inc. increased its position in shares of Willbros Group by 113.0% in the second quarter. Bridgeway Capital Management Inc. now owns 1,029,200 shares of the company’s stock worth $2,604,000 after buying an additional 545,900 shares during the period. Menta Capital LLC increased its position in shares of Willbros Group by 210.1% in the second quarter. Menta Capital LLC now owns 82,927 shares of the company’s stock worth $210,000 after buying an additional 56,187 shares during the period. Finally, Citadel Advisors LLC increased its position in shares of Willbros Group by 219.0% in the second quarter. Citadel Advisors LLC now owns 126,666 shares of the company’s stock worth $320,000 after buying an additional 86,961 shares during the period. Institutional investors and hedge funds own 60.89% of the company’s stock.
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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