Weir Share Discussion Threads

[philanderer] 04/3/2021 00:33

'Morrisons likely to drop out of FTSE 100 as groceries boom wanes'

Supermarket chain and South West Water owner likely to be replaced by engineers Weir Group and Renishaw

[philanderer] 03/3/2021 15:34

RBC RAISES WEIR GROUP PRICE TARGET TO 2,470 (2,190) PENCE - 'OUTPERFORM'

[philanderer] 03/3/2021 00:33

Investors Chronicle:

Thanks to the surge in mining interest last year, Weir’s share price more than doubled between the March equities crash and the start of 2021, to over 2,000p.

There was a 5 per cent fall to under 1,950p after the release of the 2020 results, perhaps from shareholders perturbed by the lack of a dividend. The shares are not cheap, valued at 22 times forward earnings, but we think the group will deliver through the mining rush.

Buy.

[philanderer] 02/3/2021 11:32

Commenting on the results, Brewin Dolphin senior investment manager John Moore said that if the company continues on its current track, it could shortly make a return to the FTSE 100.

"The change in fortunes is also a vindication of its management team’s decision to exit the oil and gas sector and instead focus on mining, a market that has recovered well from the depths of the pandemic.

"Weir has upped its spending on innovation and engineering technology, helping to reduce water and energy usage, as well as waste output, for customers giving the company some ESG merit for investors focussed on change and sustainability."


He added: "While the dividend hasn’t been re-instated today, there is at least a commitment in its capital allocation policy to resume payments in the not-too-distant future, possibly funded by more exciting growth potential than has been the case for some time."

[philanderer] 02/3/2021 11:03

GOLDMAN SACHS CUTS WEIR GROUP PRICE TARGET TO 1,920 (2,070) PENCE - 'NEUTRAL'

[philanderer] 02/3/2021 10:26

And not well received. No dividend either

"...Engineer Weir lost ground after it reported a decline in full-year profit and revenue."

Kiss any chance of a return to the FTSEE100 goodbye

[philanderer] 01/3/2021 18:42

Full Year results released tomorrow.

[philanderer] 23/2/2021 17:57

Outside chance of promotion to FTSE100 next week

[philanderer] 19/2/2021 15:03

And back up today :-)

[philanderer] 17/2/2021 16:48

Boll*xed today.

[philanderer] 17/2/2021 09:47

Bride's nightie lately this one ;-)

[grahamnash] 15/2/2021 18:03

Phil.
Cheers.

[grahamnash] 15/2/2021 18:02

P.
Cheers.

[philanderer] 15/2/2021 14:37

Seen nothing.

All will be revealed on 2nd march with the full year results ;-)

[grahamnash] 15/2/2021 14:14

Any news circulating about dividend reinstatement?

[philanderer] 08/2/2021 14:27

Weir rallies on Morgan Stanley upgrade to 'overweight'


(Sharecast News)

- Engineer Weir rallied on Monday after Morgan Stanley upgraded the shares to 'overweight' from 'equalweight' and hiked the price target to 2,220p from 1,730p.
The bank said it sees a "solid end market setup for 2021" and that the recent 10% pullback provides an attractive entry point. The risk/reward screens well in a sector context, MS said.

Morgan Stanley said Weir's announced sale of its oil and gas division to Caterpillar last year was an important and clear change in direction, allowing the company to focus on its highest quality assets, serving mining.

MS noted that since the sale was announced in October, the shares have been strong outperformers, up 48% versus the FTSE 350 engineering index up 16%.

[philanderer] 08/2/2021 14:17

Weir surged and Flutter Entertainment rallied after upgrades to ‘overweight217; at Morgan Stanley.

ADVFN

[philanderer] 27/1/2021 10:33

Anything mining related getting a good kicking this morning

[philanderer] 13/1/2021 13:13

BARCLAYS RAISES WEIR GROUP PRICE TARGET TO 2,350 (2,000) PENCE - 'OVERWEIGHT'

[philanderer] 12/1/2021 13:08

DEUTSCHE BANK RAISES WEIR GROUP PRICE TARGET TO 2,100 (1,960) PENCE - 'BUY'

[philanderer] 11/1/2021 17:15

(Sharecast News)

- Credit Suisse has downgraded Weir Group to 'neutral', arguing that the investment case for the engineer is less clear following the agreed disposal of its oil and gas business.

Cutting its rating from 'outperform', Credit Suisse said it had a preference for Finland's Metso Outotec and Sweden's Sandvik in the mining equipment sector, both of which it rates at 'outperform'. But the bank has upped its target price on the FTSE 250 firm, from 1,670p to 2,150p.

In October, Glasgow-based Weir announced it was selling its oil and gas division to US firm Caterpillar in a $405m deal as it sought to refocus on the mining sector.

Credit Suisse said: "With the O&G disposal having been announced and the mining businesses having re-rated, we see a less clear investment case for 2021.

"We increase our underlying earnings per share forecasts by around 7% in 2020-22, as we move the loss-making O&G division to discontinued operations to reflect the agreed disposal. We increase our target price based on a 2021 estimated sum of the parts valuation, with our target multiple for Weir now at 19x - versus 15.6x previously - which reflects as re-rating of the peer group."

Weir's share price has performed strongly in recent months, and is currently trading at more than 2,000p.

Credit Suisse said the "positive share price momentum" had "primarily been driven by strength in the copper price. Copper is the most important commodity for Weir Minerals, diving 26% of divisional sales. We see two issues here.

"We forecast +20% minerals equipment growth, which is supported by our mining capex tracker and we still do not get upside to 2021 estimated consensus order intake; and Weir has the highest share of aftermarket of the equipment peers, which is positive over the cycle but can limit the scope for positive margin surprises in an equipment up-cycle.

"In contrast, we see Metso Outotec as well-positioned from a product mix and cost savings standpoint to take advantage of what should be a healthy 2021-22 estimated mining up-cycle."

[philanderer] 11/1/2021 10:12

CREDIT SUISSE CUTS WEIR GROUP TO 'NEUTRAL' ('OUTPERFORM') - TARGET 2,150 (1,670) PENCE

[philanderer] 06/1/2021 10:09

JPMORGAN RAISES WEIR GROUP PRICE TARGET TO 1,650 (1,600) PENCE - 'NEUTRAL'

[philanderer] 17/12/2020 11:20

BANK OF AMERICA RESUMES WEIR GROUP WITH 'UNDERPERFORM' - TARGET 1,500 PENCE