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Pin to quick picksWood Group (J) Share News (WG.)

Share Price Information for Wood Group (J) (WG.)

London Stock Exchange
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Share Price: 192.90
Bid: 191.60
Ask: 192.00
Change: 27.90 (16.91%)
Spread: 0.40 (0.209%)
Open: 168.10
High: 207.80
Low: 162.20
Prev. Close: 165.00
WG. Live PriceLast checked at -

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Broker snap: HSBC downgrades Wood Group on 'benign' outlook

Thu, 22nd Aug 2013 09:11

HSBC has downgraded its stance on Wood Group from 'overweight' to 'neutral' and cut its target price from 900p to 860p, citing a 'more benign medium-term outlook' for the energy services firm.While the bank doesn't think the stock's valuation is demanding, it says that it sees a more balanced risk/reward: "We think the market will remain somewhat nervous around the outlook for Engineering and, on a 12-month view, we do not see enough upside to justify a positive view."The company disappointed the market earlier in the week after saying that while the full-year results will likely meet expectations, growth guidance for its Engineering division has been scaled back slightly. The company now forecasts just 10-15% growth in Engineering earnings before interest, tax and amortisation (EBITA), compared with previous guidance for a 15% increase.HSBC said that its group-level EBITA and earnings per share (EPS) forecasts remain unchanged for 2013 as lowered estimates for Engineering are made up for with the other divisions, namely PSN and GTS.The bank said: "In 2014, we have reduced confidence in the outlook, particularly around replacing two abnormally large contracts (Mafumeira Sul and Ichthys) that close out this year and projects delays in the Gulf of Mexico. We therefore downgrade both 2014e EBITA and EPS by 10% driven almost entirely by the Engineering division."Looking ahead to 2015, HSBC foresees a significant pipeline of projects in the Gulf of Mexico that could drive a return to growth, therefore has cut forecasts by a lesser 7%.The stock was down 1.54% at 798p by 10:10 on Thursday.BC
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2 Aug 2023 09:38

John Wood wins multi-year agreement to provide services for Shell

(Alliance News) - John Wood Group PLC on Wednesday said it has been awarded a multi-year enterprise framework agreement to continue to provide services to Shell PLC's projects.

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2 Aug 2023 07:50

LONDON BRIEFING: Taylor Wimpey profit falls; BAE Systems revenue up

(Alliance News) - Stocks in London are called to open lower on Wednesday, after Fitch's US rating downgrade caused Asian markets to fall sharply.

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13 Jul 2023 08:54

John Wood backs annual outlook as trading shows "good growth"

(Alliance News) - John Wood Group PLC on Thursday reported "good trading" in the first half of the year as revenue rose around 15% annually to USD2.9 billion.

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13 Jul 2023 07:49

LONDON BRIEFING: UK GDP falls 0.1% in May, as production down

(Alliance News) - Stocks in London are expected to edge into the green on Thursday, following the latest set of UK economic data, as the pound strengthened to a 15-month high against the dollar.

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13 Jul 2023 07:44

Wood Group 1H profits in line with expectations, trading described as 'good'

(Sharecast News) - Wood Group posted strong revenue growth for the half and said that adjusted operating profits were in line with its own forecasts.

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6 Jul 2023 15:46

UK earnings, trading statements calendar - next 7 days

Friday 7 July 
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Monday 10 July 
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Crushmetric Group LtdFull Year Results
Eco Animal Health Group PLCFull Year Results
Totally PLCFull Year Results
Tuesday 11 July 
Begbies Traynor Group PLCFull Year Results
D4t4 Solutions PLCFull Year Results
Dechra Pharmaceuticals PLCTrading Statement
Galliford Try Holdings PLCTrading Statement
Pittards PLCFull Year Results
Sosandar PLCFull Year Results
Synectics PLCHalf Year Results
Trifast PLCFull Year Results
Velocity Composites PLCHalf Year Results
Wednesday 12 July 
Atalaya Mining PLCHalf Year Results
Carclo PLCFull Year Results
Grafton Group PLCTrading Statement
Loungers PLCFull Year Results
JD Wetherspoon PLCTrading Statement
ME Group International PLCHalf Year Results
PageGroup PLCTrading Statement
Renold PLCFull Year Results
Ten Entertainment Group PLCTrading Statement
Tharisa PLCTrading Statement
Tullow Oil PLCTrading Statement
Thursday 13 July 
Barratt Developments PLCTrading Statement
Brooks Macdonald Group PLCTrading Statement
Brunner Investment Trust PLCHalf Year Results
DSW Capital PLCFull Year Results
Experian PLCTrading Statement
Hays PLCTrading Statement
John Wood Group PLCTrading Statement
TClarke PLCHalf Year Results
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

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3 Jul 2023 08:40

TOP NEWS: John Wood wins USD250 million Brunei contract extension

(Alliance News) - John Wood Group PLC on Monday said it was awarded a two-year contract extension by Brunei Shell Petroleum Co.

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3 Jul 2023 07:46

LONDON BRIEFING: Tesco names Burberry's Gerry Murphy as new chair

(Alliance News) - Stocks in London are expected to edge higher at the open on Monday, after the second half of 2023 got off to a strong start in Asia.

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3 Jul 2023 07:33

Wood Group secures $250m contract extension in Brunei

(Sharecast News) - Wood Group said on Monday that it has secured a $250m contract extension from Brunei Shell Petroleum, Brunei's largest energy producer.

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14 Jun 2023 14:58

Petrofac Ithaca, Wood Group workers to resume North Sea strike

June 14 (Reuters) - British union Unite said on Wednesday that North Sea offshore oil and gas workers employed by Petrofac on the FPF1 platform, and by the Wood Group UK Limited on TAQA platforms will resume strike action over pay next week.

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14 Jun 2023 14:21

Petrofac Ithaca, Wood Group workers to resume strike action, Unite says

June 14 (Reuters) - British union Unite said on Wednesday that offshore workers employed by Petrofac on the FPF1 platform, and the Wood Group UK Limited on TAQA platforms will resume strike action next week.

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2 Jun 2023 11:43

UK "seen as less accommodating" for big business, despite Dechra deal

(Alliance News) - Analysts were divided over what the latest takeover deal for a London mid-cap means for the wider financial market in the UK.

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26 May 2023 09:41

LONDON BROKER RATINGS: RBC cuts Halfords; Berenberg likes Sabre

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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19 May 2023 14:54

John Wood investor Sparta Capital calls for buyback again

(Alliance News) - John Wood Group PLC should announce a share buyback programme to reverse its "material undervaluation", a shareholder said on Friday.

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15 May 2023 17:22

London stocks start week strong as banks, miners rise

Currys up after lifting annual earnings forecast

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