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

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

London Stock Exchange
Share Price is delayed by 15 minutes
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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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Wood Group shares sink after Apollo abandons 1.7 bln pound bid

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TOP NEWS: John Wood remains confident as Apollo drops takeover bid

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STOXX firm despite political, debt ceiling jitters

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15 May 2023 07:56

LONDON BRIEFING: BAT names new CEO; no offer for John Wood Group

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Apollo pulls plans for Wood Group bid

(Sharecast News) - Shares in Wood Group plunged by more than a third on Monday as US private equity firm Apollo Global pulled plans to make a takeover offer for the UK oil industry engineer.

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John Wood notes good momentum across all units in first quarter

(Alliance News) - John Wood Group PLC on Thursday said it was trading in line with expectations in the first quarter of 2023, but added that it was mindful of the uncertain economic backdrop moving forward.

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11 May 2023 07:03

Wood Group holds guidance as Q1 revenues grow

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