|Bid||97.85 x 0|
|Ask||98.00 x 0|
|Day's Range||97.20 - 99.80|
|52 Week Range||75.15 - 113.40|
|Beta (3Y Monthly)||1.57|
|PE Ratio (TTM)||26.92|
|Forward Dividend & Yield||3.50 (3.59%)|
|1y Target Est||122.75|
Swiss pump maker Sulzer AG defied the gloomy global industrial outlook by lifting its full-year sales forecast on Wednesday after a big jump in sales to the oil and gas sector. Chief Executive Greg Poux-Guillaume expects large investments by oil and gas companies to continue next year, having a positive impact on Sulzer's sales and profits. "People have this doom and gloom mentality currently, but in oil and gas we are still at the beginning of the investment cycle," Poux-Guillaume said after Sulzer reported a 28% incease in first-half sales to the sector.
Sulzer has seen no slowdown in customer inquiries and could raise its full-year sales forecast despite gloomy industrial data and an ongoing trade war, the Swiss pump maker's chief executive Greg Poux-Guillaume told Reuters. Winterthur-based Sulzer, which also makes devices used by doctors and dentists to apply liquids and lotions, said in February it expected to increase orders by 2-5% and sales by 3-5% this year. "We have probably been a bit conservative because we acknowledge that the world is currently a complicated place," Poux-Guillaume said.