Foster Wheeler AG PT Raised to $34.50 at Canaccord Genuity (FWLT)
Equities researchers at Canaccord Genuity hoisted their target price on shares of Foster Wheeler AG (NASDAQ:FWLT) from $32.00 to $34.50 in a research report issued on Monday, Analyst Ratings.Net reports. Canaccord Genuity’s price target indicates a potential upside of 3.63% from the stock’s previous close.
In other Foster Wheeler AG news, CEO Gary T. Nedelka sold 13,456 shares of Foster Wheeler AG stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $33.33, for a total transaction of $448,488.48. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Foster Wheeler AG (NASDAQ:FWLT) traded up 0.33% during mid-day trading on Monday, hitting $33.40. The stock had a trading volume of 948,166 shares. Foster Wheeler AG has a 52-week low of $20.20 and a 52-week high of $34.41. The stock’s 50-day moving average is $33.31 and its 200-day moving average is $31.29. The company has a market cap of $3.330 billion and a price-to-earnings ratio of 32.80. Foster Wheeler AG also saw a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 989,919 shares, a decline of 20.8% from the April 15th total of 1,249,972 shares. Approximately 1.0% of the shares of the stock are sold short. Based on an average daily volume of 609,991 shares, the short-interest ratio is presently 1.6 days.
Foster Wheeler AG (NASDAQ:FWLT) last issued its quarterly earnings data 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.
A number of other analysts have also recently weighed in on FWLT. 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. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.45.
Foster Wheeler AG (NASDAQ:FWLT) is a supplier of engineering, construction and project management contractor and power equipment.
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