Foster Wheeler AG CEO Gary T. Nedelka Sells 13,456 Shares (FWLT)
Foster Wheeler AG (NASDAQ:FWLT) CEO Gary T. Nedelka sold 13,456 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $33.33, for a total transaction of $448,488.48. Following the completion of the transaction, the chief executive officer now directly owns 20,859 shares of the company’s stock, valued at approximately $695,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
FWLT has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Foster Wheeler AG in a research note on Friday, April 11th. They now have a $36.00 price target on the stock. Separately, analysts at Cowen and Company initiated coverage on shares of Foster Wheeler AG in a research note on Monday, March 17th. They set a “market perform” rating and a $31.00 price target on the stock. Finally, analysts at UBS AG raised their EPS on shares of Foster Wheeler AG in a research note on Friday, February 28th. They now have a “neutral” rating and a $33.00 price target on the stock. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.22.
Shares of Foster Wheeler AG (NASDAQ:FWLT) traded up 0.12% on Monday, hitting $33.33. The stock had a trading volume of 518,126 shares. Foster Wheeler AG has a 1-year low of $20.20 and a 1-year high of $34.41. The stock has a 50-day moving average of $33.31 and a 200-day moving average of $31.29. The company has a market cap of $3.323 billion and a price-to-earnings ratio of 32.80. Foster Wheeler AG also was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totalling 989,919 shares, a decrease of 20.8% from the April 15th total of 1,249,972 shares. Based on an average trading volume of 609,991 shares, the short-interest ratio is presently 1.6 days. Approximately 1.0% of the company’s stock are sold short.
Foster Wheeler AG (NASDAQ:FWLT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.19 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.19. The company had revenue of $733.70 million for the quarter, compared to the consensus estimate of $885.63 million. During the same quarter last year, the company posted $0.14 earnings per share. Foster Wheeler AG’s revenue was down 7.1% compared to the same quarter last year. Analysts expect that Foster Wheeler AG will post $1.83 EPS for the current fiscal year.
Foster Wheeler AG (NASDAQ:FWLT) is a supplier of engineering, construction and project management contractor and power equipment.
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