Babcock (NYSE:BW) has been assigned a consensus rating of “Hold” from the eight analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $5.23.
Several equities analysts recently issued reports on BW shares. BidaskClub lowered shares of Babcock from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Zacks Investment Research lowered shares of Babcock from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. KeyCorp restated a “hold” rating on shares of Babcock in a report on Friday, September 22nd. UBS AG lowered shares of Babcock from a “buy” rating to a “neutral” rating and dropped their target price for the company from $13.00 to $3.00 in a report on Monday, August 14th. Finally, Credit Suisse Group dropped their target price on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a report on Friday, August 11th.
Shares of Babcock (NYSE BW) traded down 1.21% during mid-day trading on Friday, reaching $4.08. The company had a trading volume of 1,358,749 shares. The firm’s market capitalization is $199.43 million. Babcock has a one year low of $2.51 and a one year high of $17.72. The stock has a 50 day moving average of $3.68 and a 200-day moving average of $3.68.
Babcock (NYSE:BW) last released its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($2.68). The firm had revenue of $349.80 million during the quarter, compared to analyst estimates of $434.34 million. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. Babcock’s quarterly revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. Equities analysts predict that Babcock will post ($2.59) EPS for the current year.
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In related news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were purchased at an average price of $3.10 per share, for a total transaction of $5,229,529.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.50% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Babcock by 61.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 456,960 shares of the technology company’s stock valued at $5,374,000 after purchasing an additional 174,709 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Babcock by 77.4% during the second quarter. Victory Capital Management Inc. now owns 118,500 shares of the technology company’s stock valued at $1,394,000 after purchasing an additional 51,700 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Babcock by 29.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,034,928 shares of the technology company’s stock valued at $19,006,000 after purchasing an additional 458,237 shares during the period. California Public Employees Retirement System raised its holdings in shares of Babcock by 467.1% during the second quarter. California Public Employees Retirement System now owns 838,100 shares of the technology company’s stock valued at $9,856,000 after purchasing an additional 690,300 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Babcock by 4.3% during the first quarter. Vanguard Group Inc. now owns 3,919,654 shares of the technology company’s stock valued at $36,610,000 after purchasing an additional 160,524 shares during the period. Hedge funds and other institutional investors own 94.17% of the company’s stock.
Babcock Company Profile
Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.
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