Willbros Group, Inc. (WG) Downgraded by Zacks Investment Research to Hold
Willbros Group, Inc. (NYSE:WG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.
According to Zacks, “Willbros Group, Inc. is an independent contractor serving the oil, gas and power industries, providing construction, engineering and specialty services to industry and government entities worldwide. They place particular emphasis on projects in developing countries where they believe their experience gives them a competitive advantage. “
A number of other research analysts have also weighed in on the company. ValuEngine raised Willbros Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Credit Suisse Group increased their price target on Willbros Group from $1.25 to $1.35 and gave the stock an “underperformer” rating in a research note on Wednesday, August 16th.
Willbros Group (WG) traded down 1.94% during midday trading on Friday, reaching $2.53. The company’s stock had a trading volume of 461,642 shares. The company has a 50 day moving average price of $2.19 and a 200 day moving average price of $2.48. Willbros Group has a 1-year low of $1.42 and a 1-year high of $3.84. The firm’s market cap is $160.15 million.
Willbros Group (NYSE:WG) last issued its quarterly earnings results on Monday, July 31st. The oil and gas company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.02. Willbros Group had a negative return on equity of 31.89% and a negative net margin of 6.17%. The company had revenue of $227.40 million for the quarter, compared to analyst estimates of $193.61 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities research analysts expect that Willbros Group will post ($0.23) EPS for the current year.
Institutional investors have recently modified their holdings of the business. Heartland Advisors Inc. raised its position in shares of Willbros Group by 2.3% in the 2nd quarter. Heartland Advisors Inc. now owns 4,400,443 shares of the oil and gas company’s stock worth $10,869,000 after buying an additional 99,233 shares during the period. Gendell Jeffrey L raised its position in shares of Willbros Group by 8.6% in the 1st quarter. Gendell Jeffrey L now owns 3,865,981 shares of the oil and gas company’s stock worth $10,593,000 after buying an additional 304,509 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Willbros Group by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,455,337 shares of the oil and gas company’s stock worth $6,065,000 after buying an additional 191,019 shares during the period. Vanguard Group Inc. raised its position in shares of Willbros Group by 13.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,746,918 shares of the oil and gas company’s stock worth $4,315,000 after buying an additional 209,441 shares during the period. Finally, Royce & Associates LP raised its position in shares of Willbros Group by 6.4% in the 2nd quarter. Royce & Associates LP now owns 1,737,409 shares of the oil and gas company’s stock worth $4,291,000 after buying an additional 105,000 shares during the period. 58.66% of the stock is currently owned by institutional investors.
Willbros Group Company Profile
Willbros Group, Inc is a specialty energy infrastructure contractor serving the oil and gas and power industries with offerings that primarily include construction, maintenance and facilities development services. The Company operates through three segments: Oil & Gas, Utility T&D and Canada. The Company provides services through operating subsidiaries.
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