WEG (OTCMKTS:WEGZY) Posts Quarterly Earnings Results, Hits Estimates

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

WEG Price Performance

Shares of OTCMKTS:WEGZY traded down $0.43 during 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 stock has a market capitalization of $38.62 billion and a PE ratio of 32.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.59 and a quick ratio of 1.02. WEG has a 52 week low of $7.38 and a 52 week high of $10.80. The business’s 50-day moving average price is $9.84 and its 200 day moving average price is $9.35.

Wall Street Analysts Forecast Growth

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