WEG (OTCMKTS:WEGZY) Releases Earnings Results, Beats Estimates By $0.30 EPS

WEG (OTCMKTS:WEGZY) announced its quarterly earnings results on Wednesday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.30, Zacks reports.

WEG Trading Up 2.5%

Shares of WEG stock traded up $0.24 on Wednesday, hitting $9.69. 33,093 shares of the company traded hands, compared to its average volume of 61,019. The stock’s 50 day moving average price is $8.83 and its 200-day moving average price is $9.26. The company has a market cap of $40.67 billion and a PE ratio of 7.70. WEG has a 52 week low of $6.40 and a 52 week high of $10.80.

Analyst Ratings Changes

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

WEG Company Profile

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.