Foster Wheeler PT Raised to $32.00 at Jefferies Group (FWLT)
Stock analysts at Jefferies Group lifted their target price on shares of Foster Wheeler (NASDAQ:FWLT) from $28.00 to $32.00 in a report issued on Tuesday, Analyst Ratings News reports. Jefferies Group’s target price suggests a potential upside of 3.56% from the company’s current price.
Foster Wheeler (NASDAQ:FWLT) traded down 0.74% during mid-day trading on Tuesday, hitting $30.90. The stock had a trading volume of 7,561,947 shares. Foster Wheeler has a 1-year low of $19.29 and a 1-year high of $33.08. The stock’s 50-day moving average is $31.41 and its 200-day moving average is $26.57. The company has a market cap of $3.040 billion and a P/E ratio of 22.67.
Foster Wheeler (NASDAQ:FWLT) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $801.83 million for the quarter, compared to the consensus estimate of $892.28 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts predict that Foster Wheeler will post $1.61 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse downgraded shares of Foster Wheeler from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $32.00 price target on the stock, down previously from $35.00. Separately, analysts at Canaccord Genuity downgraded shares of Foster Wheeler from a “buy” rating to a “hold” rating in a research note to investors on Monday. Finally, analysts at Stephens initiated coverage on shares of Foster Wheeler in a research note to investors on Thursday, December 19th. They set an “overweight” rating on the stock. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Foster Wheeler currently has an average rating of “Hold” and a consensus target price of $29.90.
Foster Wheeler AG (NASDAQ:FWLT) operate through two business groups: the Global Engineering & Construction Group (Global E&C Group), and its Global Power Group.
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