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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: 187.80
Bid: 188.40
Ask: 188.60
Change: 2.30 (1.24%)
Spread: 0.20 (0.106%)
Open: 190.00
High: 190.00
Low: 185.10
Prev. Close: 185.50
WG. Live PriceLast checked at -

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Exane upgrades Wood Group, highlights promising Upstream engineering pipeline

Mon, 12th Sep 2016 07:46

(ShareCast News) - Exane BNP Paribas upgraded Wood Group to 'outperform' from 'neutral' and raised the price target to 815p from 695p.It noted the shares have lagged more operationally-geared peers year-to-date."Wood offers relatively low-risk exposure to a number of areas of early-cycle spending growth, with a differentiated outlook in upstream engineering, and screens attractively versus the sector on free cash flow yield and embedded value-based metrics."Given the compression in relative dividend yield between AMEC and Wood Group, we think the latter should be particularly attractive for income hunters in the sector."The bank said that when it downgraded the stock last Autumn, one of its concerns was the potential for structural impacts to its revenue line to continue to impede the overall revenue recovery in the business. It estimated that the structural impact could be around 30% of the upstream/subsea engineering business.Although Exane still thinks this holds, it said that in several business lines, the cyclical slowdown has overwhelmed the revenue recovery impact, with around 50% of the business now at or around the trough.Upstream Engineering is down around 45% from the peak and Exane reckons this would be more than 50% were it not for Wood's entry into Saudi Arabia.It said Subsea engineering will likely be down about 50% from the peak in 2017, while North Sea revenues are already down about 60% from the peak.The bank said Wood Group's first-half results revealed a promising pipeline in Upstream engineering, for the first time in at least three years, thanks to secured contracts for projects such as Tengiz and Leviathan."In fact, we think the outlook is perhaps even more promising when looking out around 12 months."Wood Group shares closed flat on Friday at 701.94p.
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2 Nov 2023 15:57

UK earnings, trading statements calendar - next 7 days

Friday 3 November 
no events scheduled 
Monday 6 November 
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Tuesday 7 November 
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Direct Line Insurance Group PLCTrading Statement
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Wednesday 8 November 
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Secure Trust Bank PLCTrading Statement
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Thursday 9 November 
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Domino's Pizza Group PLCTrading Statement
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Flutter Entertainment PLCTrading Statement
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WH Smith PLCFull Year Results
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1 Nov 2023 10:45

IN BRIEF: John Wood Group hires Rolls-Royce executive as new CFO

John Wood Group PLC - Aberdeen, Scotland-based engineering and consulting - Hires Arvind Balan as its new chief financial officer, starting April 15 next year. Balan has been CFO of the Civil Aerospace division of jet engine maker Rolls-Royce Holdings PLC for the past two years. Before that, he worked for oil major Shell PLC for 14 years in the UK, Singapore and China. At John Wood, Balan replaces David Kemp, whose retirement was announced back in August, having worked at John Wood for a decade. "Wood has always stood out for me as a company with unique potential," incoming CFO Balan says.

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1 Nov 2023 08:14

Wood Group appoints Arvind Balan as CFO

(Sharecast News) - John Wood Group said on Wednesday that it has appointed Arvind Balan as its chief financial officer and executive director with effect from 15 April 2024.

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18 Oct 2023 09:14

Bodycote appoints successor to chief executive set to retire in May

(Alliance News) - Bodycote PLC on Wednesday said it appointed Jim Fairbairn as its future chief executive officer, set to succeed the retiring Stephen Harris

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3 Oct 2023 09:35

LONDON BROKER RATINGS: UBS cuts Burberry; JPMorgan likes EnQuest

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

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6 Sep 2023 09:32

LONDON BROKER RATINGS: Shore says 'buy' B&M; Peel Hunt likes Halfords

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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5 Sep 2023 15:22

London close: Stocks fall on back of weak services data

(Sharecast News) - London's stock markets ended the trading day in negative territory on Tuesday, pressured by a decline in sterling against the dollar on the back of disappointing services sector data.

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4 Sep 2023 09:24

Wood Group, Harbour Energy partner for UK North Sea operations

Wood signs contract with Harbour energy

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4 Sep 2023 09:23

John Wood and Harbour Energy enter USD300 million North Sea deal

(Alliance News) - John Wood Group PLC on Monday said it has agreed a new strategic partnership with Harbour Energy PLC to provide engineering, maintenance and other operational services.

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4 Sep 2023 07:36

LONDON BRIEFING: CMC names new CFO; takeover offer for Ergomed

(Alliance News) - Stocks in London are expected to open on a positive note on Monday, amid an improvement in global risk sentiment.

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4 Sep 2023 07:10

Wood Group signs $330m services deal with Harbour Energy

(Sharecast News) - Engineering company Wood Group said it had struck a $330m services agreement with North Sea oil and gas producer Harbour Energy.

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27 Aug 2023 10:27

Sunday share tips: Wood Group, Cake Box

(Sharecast News) - The recent failed takeover for Wood Group could present a buying opportunity for investors, suggests the Mail on Sunday's Midas column.

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24 Aug 2023 14:14

Director dealings: LSE, Wood Group non-execs make purchases

(Sharecast News) - London Stock Exchange was on the list of director buys on Thursday, after an independent non-executive director was linked to a purchase.

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22 Aug 2023 17:13

Cyclical stocks lift UK equities off six-week lows; Wood Group rises

Blue-chip FTSE 100 snaps seven-day losing streak

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22 Aug 2023 16:56

LONDON MARKET CLOSE: FTSE 100 snaps seven day losing streak

(Alliance News) - Stocks in London were higher at the close on Tuesday as markets celebrated better-than-expected public sector borrowing figures in the UK, and hoped that Chancellor Jeremy Hunt may have enough firepower in government coffers to enact some pre-election tax cuts.

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