Insider Selling: Foster Wheeler AG VP Sells 8,200 Shares of Stock (FWLT)
Foster Wheeler AG (NASDAQ:FWLT) VP Rakesh K. Jindal sold 8,200 shares of Foster Wheeler AG stock on the open market in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $33.30, for a total value of $273,060.00. Following the transaction, the vice president now directly owns 15,647 shares in the company, valued at approximately $521,045. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Foster Wheeler AG (NASDAQ:FWLT) opened at 33.40 on Tuesday. Foster Wheeler AG has a 52 week low of $20.20 and a 52 week high of $34.41. The stock has a 50-day moving average of $33.35 and a 200-day moving average of $31.36. The company has a market cap of $3.330 billion and a price-to-earnings ratio of 32.91. Foster Wheeler AG also saw a significant 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 days-to-cover ratio is currently 1.6 days. Currently, 1.0% of the company’s shares are short sold.
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 $1.82 EPS for the current fiscal year.
A number of analysts have recently weighed in on FWLT shares. Analysts at Canaccord Genuity raised their price target on shares of Foster Wheeler AG from $32.00 to $34.50 in a research note on Monday. Separately, 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. Finally, 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. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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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