Willbros Group Trading Down 9.2% on Disappointing Earnings (WG)
Willbros Group (NYSE:WG)’s share price fell 9.2% on Tuesday following a weaker than expected earnings announcement, Analyst Ratings Net reports. The company traded as low as $10.24 and last traded at $10.62, with a volume of 592,461 shares. The stock had previously closed at $11.69.
The company reported $0.16 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.18 by $0.02. The company had revenue of $543.60 million for the quarter, compared to the consensus estimate of $532.94 million. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis.
A number of analysts have recently weighed in on WG shares. Analysts at Zacks downgraded shares of Willbros Group from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 8th. They now have a $11.60 price target on the stock. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Willbros Group in a research note on Friday, May 9th. They now have a $13.00 price target on the stock, down previously from $13.50. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Willbros Group currently has an average rating of “Hold” and a consensus price target of $11.43.
The stock has a 50-day moving average of $12.27 and a 200-day moving average of $11.10. The company’s market cap is $530.0 million.
Willbros Group, Inc (NYSE:WG) is a full service engineering and construction company specializing in energy infrastructure serving the oil and gas and power industries.
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