London, June 25, 2026, 15:14 BST
- The stock is down 34% from its peak in February
- Roughly £3.1 billion in market value is gone
- FY26 adjusted operating-profit consensus has fallen 2.6% since February
- Consensus for May shows 58% of yearly profit is expected in H2
Weir Group PLC (LON:WEIR) shares slipped Thursday, dropping 0.6% to 2,368 pence at 1453 BST, even after JPMorgan Chase & Co (NYSE:JPM) raised its price target. The stock has dropped 34% since February, outpacing the reduction in 2026 profit estimates. FTSE 100 was up.
The stock is trading 33.9% under its high of 3,580p from February 26. That drop, with the current market cap near £6.1 billion, wipes about £3.1 billion off the company’s equity value.
Weir-published analyst consensus for FY26 adjusted operating profit is at £570 million, down 2.6% from the £585 million level in February. Adjusted EPS is now 132.4p, which is a drop of 7.6%. The forward multiple backed by those EPS numbers is about 18 times, down from the February peak of 25 times. The forecast is heavier on H2: May consensus has 58% of adjusted operating profit coming in the second half, with margins moving up to 22.1% compared to 18.9% in H1. Organic order growth for the year is forecast at 6.6%, against 1.1% in H1.
JPMorgan lifted its price target on Weir to 3,800p from 3,500p, keeping an overweight call. The bank called Weir its top pick in mining equipment. The new target offers roughly 60% upside from Thursday’s close. JPMorgan is looking for a 40/60 EBITA split between H1 and H2 and now sees about 7% order growth in both the next two years. It noted recent de-rating “more than captured” second-half risk. London South East
Orders at the first-quarter update were up 4% at constant currency with a book-to-bill of 1.14. But organic group orders were down 3%, according to the company appendix. Acquisitions added seven points to aftermarket order growth. CEO Jon Stanton said, “we expect orders to develop very positively through the year”. Investegate
Stanton is leaving as of August 1, and Andrew Neilson, who runs the Minerals division, will take the top job. AJ Bell’s Russ Mould said after the news hit that the response showed “some trepidation about Weir’s prospects under new leadership”. Pilling & Co Stockbrokers Ltd.
The market erased value about 4.3 times larger than the £735 million Weir paid for Micromine and Townley together. Weir closed 2025 with net debt at £1.274 billion, up by £739 million. Acquisitions were the main reason for the jump, the company said.
Weir will post its half-year numbers July 29 at 0800 BST. Investors will look for a turn in organic orders ahead of the expected H2 profit jump in consensus.
