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Wood Group (J) Information
Share Price Information for Wood Group (J) (WG.)
Share Price is delayed by 15 minutes
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Share Price:
201.60
Bid:
200.80
Ask:
201.20
Change:
5.80 (2.96%)
Spread:
0.40 (0.199%)
Open:
195.00
High:
202.40
Low:
195.00
Prev. Close:
195.80
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Don't have an account? Click here to register.Jefferies downgrades Wood Group over dividend risks
Mon, 25th Mar 2019 09:37
(Sharecast News) - Jefferies has downgraded Wood Group, over concerns that the dividend could come under pressure at the energy services firm.Jefferies, which reset its price target on the shares to 480p against a previous goal of 550p, reduced its rating to 'underperform' from 'hold'. The decision weighed heavily on the stock, and by 1000 GMT on Monday the shares were off nearly 6%.In a note called 'Deferred Deleverage', Jefferies said: "We see a similar progressive dividend risk with Wood Group to that we saw with the Amec Foster Wheeler deal. Wood Group's excellent strategic track record in mergers and acquisitions and balance sheet management will be tested to the full."Wood Group, which completed its $2.2bn takeover of Amec Foster Wheeler in October 2017, updated the City on Monday about its non-core asset disposal programme, and said it had agreed to sell its Terra Nova Technologies unit to Cementation Americas for $38m.But Jefferies argued that Aberdeen-based Wood's ongoing plans to cut debt would be at risk if disposals slipped.While Wood continues to see $200m to $300m of future disposals, the bank's analysts said timing "appears less certain" and with known cash exceptions of $100m, "we wonder about the unknowns".The analysts also pointed to upcoming changes to the way Wood Group will report earnings and revenues, thereby creating "more complex" historical performance comparisons."In the coming year, Wood Group will stop using EBIT as its principal performance measure, moving instead to adjusted EBITDA, including joint ventures, and reporting revenues on an equity accounted basis, excluding joint ventures.""With so many adjustments and new measurements, full-year 2018 results did indeed appear messy, a view compounded by a reported loss of $7.6bn, which was however less than 2017's $30m loss.The analysts said that with all the changes from the merger, reported earnings "has to be a function of valuation as frankly it is one of the few consistent measures we have" but, after updating for lower exceptional costs but higher interest and tax produces, a 2019 net income forecast of $74m is still materially below the average City profit forecast of $193m for 2019.
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6 Jun 2024 17:02
London stocks close higher on miners boost; ECB cuts rates
FTSE 100 up 0.5%, FTSE 250 adds 0.2%
*Read more6 Jun 2024 12:00
LONDON MARKET MIDDAY: Europe gets boost ahead of ECB rate call
(Alliance News) - Major European indices got a boost on Thursday, as investors eye the European Central Bank's latest interest rate decision.
Read more6 Jun 2024 07:34
Wood Group to 'engage' with Sidara on takeover proposal
(Sharecast News) - Wood Group said late on Wednesday that it had decided to "engage" with Sidara after the Dubai-based engineering and consulting firm made an improved and final takeover proposal last week at 230p a share.
Read more5 Jun 2024 19:18
TOP NEWS: John Wood decides to engage with Sidara over possible bid
(Alliance News) - John Wood Group PLC on Wednesday said it has decided to engage with Dar Al-Handasah Consultants Shair & Partners Holdings Ltd after evaluating a fourth bid proposal received last Wednesday.
Read more29 May 2024 16:58
LONDON MARKET CLOSE: Stocks fall as US Treasury yields widen
(Alliance News) - Stock prices in Europe declined on Wednesday with markets nervy ahead of US data later this week, and as investors digest hawkish words from a US central banker.
Read more29 May 2024 15:35
TOP NEWS: John Wood gets "fourth and final" Sidara takeover bid
(Alliance News) - John Wood Group PLC on Wednesday confirmed that Dar Al-Handasah Consultants Shair & Partners Holdings Ltd has made another cash takeover offer.
Read more29 May 2024 14:55
Sidara raises proposed buyout offer for UK's Wood Group for third time
May 29 (Reuters) - Dubai-based engineering and consulting firm Sidara on Wednesday raised its proposed takeover offer for John Wood Group for the third time, saying that was its "final offer" for the British oilfield services and engineering company.
Read more29 May 2024 14:04
Sidara makes final takeover approach to Wood Group at 230p a share
(Sharecast News) - Wood Group said on Wednesday that it was evaluating a fourth and final "unsolicited, preliminary and conditional" takeover proposal from Dubai-based engineering and consulting firm Sidara at 230p a share.
Read more24 May 2024 17:05
LONDON MARKET CLOSE: FTSE 100 stumbles as rain dampens retail sales
(Alliance News) - Stock prices in London closed mixed on Friday, with the FTSE 100 finishing lower, but smaller indices ending in the green.
Read more24 May 2024 15:19
London close: Stocks mixed after disappointing retail sales data
(Sharecast News) - London stocks closed with mixed results on Friday, influenced by earlier declines in the US and Asian markets, as investors reacted to a larger-than-expected drop in UK retail sales.
Read more24 May 2024 12:00
LONDON MARKET MIDDAY: FTSE 100 in red as UK election heats up
(Alliance News) - Stock prices in London were mostly in the red at midday Friday, as the UK election debate heats up and retail sales come in below expectations.
Read more24 May 2024 09:53
TOP NEWS: John Wood spurns third takeover approach from Sidara
(Alliance News) - John Wood Group PLC on Friday said it rejected a third takeover approach from Dar Al-Handasah Consultants Shair & Partners Holdings Ltd, known as Sidara.
Read more24 May 2024 07:52
LONDON BRIEFING: UK retail sales fall amid wet April; Co-Op Bank deal
(Alliance News) - Stocks are called to open lower on Friday, following New York lower, as hopes of interest rate cuts have come into question.
Read more24 May 2024 07:02
Wood Group rejects new 220p-a-share approach from Sidara
(Sharecast News) - Wood Group said it had rejected a third unsolicited £1.52bn takeover proposal from rival Dubai-based engineering and consulting company Sidara, saying it continued to "significantly undervalue" the group and its prospects.
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