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Prices & Quotes - UK Markets - Wood Group (John) (WG.)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 314.00p
Change Today:
4.60p
Market Cap:
2,161.39m
Sector:
Oil Equipment, Services & Distribution

Barclays downgrades Wood Group after recent outperformance

By Michele Maatouk

Date: Friday 15 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Barclays downgraded Wood Group to 'equalweight' from 'overweight' on Friday and cut the price target to 330p from 370p following recent outperformance.
The bank said the transition related potential of Wood has gained investor traction over recent months as its broad-based engineering-based focus allows it to offer a variety of skills to the emerging new energy environment. However, that does not make it immune from the oil price or from sub-optimal execution on projects, which cost a further $20mn in the second half 2020, it added.

Barclays said that including the impact from Covid-19, the project award cadence has reduced and year-end backlog now stands 20% lower.

"Business has slowed, and while there is a scenario which could see a rebound as the year progresses, at this juncture it looks as if revenues in 2021F will fall meaningfully again and put further pressure on margins," the bank said.

"The good news is that underlying performance has improved, costs continue to come out, the issues are largely in the US and the provision absorption of cash should drop."

With the shares having doubled since the March 2020 lows, outperforming the sector by more than 50%, Barclays said it sees the headwinds as a hindrance to continued outperformance.

At 1135 GMT, the shares were down 3.1% at 339.70p.

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WG. Market Data

Currency UK Pounds
Price 314.00p
Change Today 4.60p
52 Week High 398.60p
52 Week Low 135.45p
Volume 21,450
Shares Issued 688.34m
Market Cap 2,161.39m
Beta 0.08

Performance Indicators

Compare performance with the sector and the market.

Key
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Vs Sector
Value
market
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sector
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Price Trend
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Income
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sector
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Growth
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Price Chg 6m
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P/E
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PEG
market
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sector
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Dividend Yield
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EPS Growth
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sector
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Operating Margin
market
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sector
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  5. empty sector

What The Brokers Say

Strong Buy 5
Buy 0
Neutral 6
Sell 0
Strong Sell 1
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WG. Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 25-Apr-19
Paid 26-Sep-19 16-May-19
Amount 11.40¢ 23.70¢

Trades for 25-Feb-2021

Time Volume / Share Price
08:05 782 @ 314.00p
08:05 132 @ 314.10p
08:05 315 @ 314.10p
08:05 757 @ 314.20p
08:05 135 @ 315.00p

WG. Key Personnel

CEO Robin Watson
CFO David Kemp
Chair Roy Franklin