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

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

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Share Price: 184.10
Bid: 184.10
Ask: 184.70
Change: 0.00 (0.00%)
Spread: 0.60 (0.326%)
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Prev. Close: 184.10
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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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31 Mar 2023 07:56

LONDON BRIEFING: UK avoids recession in 2022; house prices down 3%

(Alliance News) - Stocks in London were called to open flat on Friday, amid better-than-expected UK GDP figures.

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28 Mar 2023 10:40

John Wood swings to 2022 loss on business disposal impairment charge

(Alliance News) - John Wood Group PLC on Tuesday said it swung to a loss in 2022 due to a heavy exceptional impairment charge, as it failed to resume dividend payments.

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28 Mar 2023 07:49

Wood Group profits at top end of guidance

(Sharecast News) - Wood Group said on Tuesday that full-year profit was at the top end of its guidance range, thanks in part to solid performances from its consulting and operations businesses.

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21 Mar 2023 15:49

UK earnings, trading statements calendar - next 7 days

Wednesday 22 March 
Anpario PLCFull Year Results
Atalaya Mining PLCFull Year Results
Baillie Gifford Shin Nippon PLCFull Year Results
BioPharma Credit PLCFull Year Results
Blackbird PLCFull Year Results
Bloomsbury Publishing PLCTrading Statement
Essentra PLCFull Year Results
Fevertree Drinks PLCFull Year Results
Genel Energy PLCFull Year Results
Hostelworld Group PLCFull Year Results
Judges Scientific PLCFull Year Results
Kenmare Resources PLCFull Year Results
Literacy Capital PLCQ3 Results
LSL Property Services PLCFull Year Results
Mpac Group PLCFull Year Results
NAHL Group PLCFull Year Results
Pendragon PLCFull Year Results
Pharos Energy PLCFull Year Results
Sareum Holdings PLCHalf Year Results
Ten Entertainment Group PLCFull Year Results
Vistry Group PLCFull Year Results
Thursday 23 March 
C&C Group PLCTrading Statement
Energean PLCFull Year Results
Gulf Keystone Petroleum LtdFull Year Results
Inchcape PLCFull Year Results
Playtech PLCFull Year Results
Pollen Street PLCFull Year Results
Portmeirion Group PLCFull Year Results
Safestyle UK PLCFull Year Results
Wickes Group PLCFull Year Results
Friday 24 March 
Ceres Power Holdings PLCFull Year Results
JD Wetherspoon PLCHalf Year Results
NAHL Group PLCFull Year Results
Smiths Group PLCHalf Year Results
Sopheon PLCFull Year Results
Tribal Group PLCFull Year Results
Monday 27 March 
Aeorema Communications PLCHalf Year Results (TBC)
Belvoir Group PLCFull Year Results
Carnival PLCTrading Statement
CentralNic Group PLCFull Year Results
Crimson Tide PLCFull Year Results
Dialight PLCFull Year Results
eEnergy Group PLCHalf Year Results
Equals Group PLCFull Year Results
Hyve Group PLCTrading Statement
IQGeo Group PLCFull Year Results
Life Science REIT PLCFull Year Results
RTC Group PLCFull Year Results
SigmaRoc PLCFull Year Results
Tandem Group PLCFull Year Results
Thungela Resources LtdFull Year Results
Tortilla Mexican Grill PLCFull Year Results
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AG Barr PLCFull Year Results
Animalcare Group PLCFull Year Results
Bango PLCTrading Statement
Bellway PLCHalf Year Results
CPPGroup PLCFull Year Results
DigitalBox PLCFull Year Results
EKF Diagnostics Holdings PLCFull Year Results
Eleco PLCFull Year Results
Empresaria Group PLCFull Year Results
Flowtech Fluidpower PLCFull Year Results
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James Fisher & Sons PLCFull Year Results
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Marlowe PLCTrading Statement
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Nanoco Group PLCHalf Year Results
Ocado Group PLCTrading Statement
Personal Group Holdings PLCFull Year Results
Petershill Partners PLCFull Year Results
Real Estate Investors PLCFull Year Results
Regional REIT LtdFull Year Results
S&U PLCFull Year Results
Softcat PLCHalf Year Results
Synthomer PLCFull Year Results
Team17 Group PLCFull Year Results
United Utilities Group PLCTrading Statement
VH Global Sustainable Energy Opportunities PLCFull Year Results
Xaar PLCFull Year Results
  
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20 Mar 2023 09:44

Unite says 1,400 UK offshore workers to strike 'within weeks'

March 20 (Reuters) - Some 1,400 UK offshore workers are preparing to strike "within weeks at sites operated by major oil and gas companies, the Unite union said on Monday.

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20 Mar 2023 08:18

Unite says 1,400 offshore workers across companies to strike at UK continental shelf

March 20 (Reuters) - British union Unite on Monday said multiple industrial actions would hit major oil and gas operators as 1,400 offshore workers get set to strike "within weeks."

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17 Mar 2023 09:39

John Wood extends deadline for takeover offer from Apollo to April 19

(Alliance News) - John Wood Group PLC on Friday said it agreed to extend the put-up-or-shut-up deadline for Apollo Global Management Inc to make a formal takeover offer.

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17 Mar 2023 07:16

Wood Group grants Apollo extension on bid deadline

(Sharecast News) - Private equity firm Apollo has been given an extension on whether it will formally bid for Wood Group after three prior approaches were rebuffed.

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14 Mar 2023 13:49

John Wood sells labour supply operations in Gulf of Mexico to Danos

(Alliance News) - John Wood Group PLC on Tuesday said it completed the sale of its offshore labour supply operations in the Gulf of Mexico to Louisiana-based energy services contractor Danos.

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8 Mar 2023 11:17

Jefferies downgrades Wood Group to 'hold'

(Sharecast News) - Analysts at Berenberg downgraded engineering services firm Wood Group from 'buy' to 'hold' on Wednesday following a fourth cash offer for the company.

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8 Mar 2023 09:20

LONDON BROKER RATINGS: Jefferies cuts John Wood to 'hold' from 'buy'

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

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8 Mar 2023 07:59

LONDON BRIEFING: UK insurers report mixed results and change chairs

(Alliance News) - Stocks in London are set to open lower on Wednesday, as markets saw any prospect of a dovish pivot from the US Federal Reserve dashed on Tuesday after its chair said rates would likely remain high.

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7 Mar 2023 17:15

UK stock indexes close down after Powell's hawkish remarks

Premier Foods climbs on annual profit outlook raise

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7 Mar 2023 17:02

LONDON MARKET CLOSE: Stocks down as Powell comments knock confidence

(Alliance News) - Stock prices in London closed lower on Tuesday, after Federal Reserve Chair Jerome Powell appeared to confirm that interest rates in the US are set to rise higher than markets previously expected.

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7 Mar 2023 12:21

LONDON MARKET MIDDAY: Stocks static ahead of US Fed chair testimony

(Alliance News) - Stock prices in London were broadly flat at midday on Tuesday, though the FTSE 100 crept into the green, as investors waited for Federal Reserve Chair Jerome Powell's two days of testimony before the US Congress.

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