Shares of Weg S.A. (OTCMKTS:WEGZY – Get Free Report) saw strong trading volume on Tuesday . Approximately 324,903 shares changed hands during trading, an increase of 87% from the previous session’s volume of 173,900 shares.The stock last traded at $9.7750 and had previously closed at $9.76.
Wall Street Analysts Forecast Growth
WEGZY has been the subject of a number of recent analyst 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 raised shares of 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 given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold”.
Check Out Our Latest Stock Report on WEG
WEG Stock Down 0.3%
WEG (OTCMKTS:WEGZY – Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.94 billion. As a group, equities analysts expect that Weg S.A. will post 0.31 EPS for the current year.
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.
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