Wärtsilä Oyj Abp (OTCMKTS:WRTBY) sets new 1-year low on analyst downgrade

Shares of Wärtsilä Oyj Abp (OTCMKTS:WRTBY – Get a rating) hit a new 52-week low midday on Thursday after JPMorgan Chase & Co. lowered its price target on the stock from €9.20 to €8.70. The stock traded as low as $1.37 and last traded at $1.37, with volume of 1,000 shares changing hands. The stock previously closed at $1.45.

Separately, Citigroup raised its price target on Wärtsilä Oyj Abp to €8.50 ($8.67) in a Friday, July 22 research note. Three equity research analysts gave the stock a sell rating, two issued a hold rating and five gave the company a buy rating. According to MarketBeat, Wärtsilä Oyj Abp has a consensus rating of “Hold” and an average price target of $10.20.

Wärtsilä Oyj Abp share performance

The company has a market capitalization of $4.05 billion, a PE ratio of 20.71 and a beta of 1.02. The stock has a 50-day simple moving average of $1.64 and a 200-day simple moving average of $1.65.

Wärtsilä Oyj Abp cuts its dividend

The company also recently announced a dividend, which will be paid on Friday, October 21. Shareholders of record on Thursday, September 29 will receive a dividend of $0.0136 per share. The ex-dividend date is Wednesday, September 28. This represents a dividend yield of 1.91%. The payout ratio of Wärtsilä Oyj Abp is 42.86%.

About Wärtsila Oyj Abp

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Wärtsilä Oyj Abp provides lifecycle technologies and solutions for marine and energy markets worldwide. The company’s marine energy portfolio includes engines, propulsion systems, hybrid technology and integrated powertrain systems; marine systems including life cycle products and services related to the gas value chain, exhaust gas treatment, shaft line, underwater repair and electrical integrations; travel solutions consist of bridge infrastructure, cloud data services, decision support systems and smart port solutions to enable coast-to-coast visibility, as well as to create an end-to-end connected digital ecosystem for maritime transport; and decarbonization energy services include future-fuel balancing power plants, hybrid solutions, energy storage and optimization technology, such as the GEMS energy management platform.

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