WEG (OTCMKTS:WEGZY) Shares Gap Up – Here’s What Happened

Weg S.A. (OTCMKTS:WEGZY)’s stock price gapped up prior to trading on Tuesday. The stock had previously closed at $7.78, but opened at $8.75. WEG shares last traded at $8.5972, with a volume of 30,976 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on WEGZY. The Goldman Sachs Group raised WEG from a “neutral” rating to a “buy” rating in a research note on Monday. Zacks Research raised shares of WEG to a “hold” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

WEG Stock Up 2.9%

The business’s 50 day moving average is $9.74 and its 200 day moving average is $9.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.59. The stock has a market cap of $36.89 billion and a price-to-earnings ratio of 30.31.

WEG (OTCMKTS:WEGZY) last announced its earnings results on Wednesday, October 21st. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.07 billion. WEG had a net margin of 15.39% and a return on equity of 32.99%. Equities analysts expect that Weg S.A. will post 0.31 earnings per share for the current year.

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.