Babcock & Wilcox Enterprises Inc. (BW) Lowered to “Underperform” at Credit Suisse Group AG
Credit Suisse Group AG lowered shares of Babcock & Wilcox Enterprises Inc. (NYSE:BW) from a neutral rating to an underperform rating in a research report sent to investors on Thursday morning. Credit Suisse Group AG currently has $16.00 price objective on the stock.
Several other brokerages have also recently issued reports on BW. Zacks Investment Research upgraded shares of Babcock & Wilcox Enterprises from a sell rating to a buy rating and set a $19.00 target price for the company in a report on Tuesday, August 30th. KeyCorp restated an outperform rating and issued a $22.00 target price on shares of Babcock & Wilcox Enterprises in a report on Wednesday, August 24th.
Shares of Babcock & Wilcox Enterprises (NYSE:BW) opened at 15.64 on Thursday. The stock has a 50 day moving average of $16.37 and a 200 day moving average of $18.43. The firm’s market cap is $781.72 million. Babcock & Wilcox Enterprises has a 12 month low of $14.27 and a 12 month high of $23.99.
Babcock & Wilcox Enterprises (NYSE:BW) last issued its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.05. Babcock & Wilcox Enterprises had a negative net margin of 3.04% and a positive return on equity of 5.87%. The company earned $383.20 million during the quarter, compared to analyst estimates of $432.54 million. During the same quarter in the previous year, the company posted $0.27 EPS. The company’s quarterly revenue was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Babcock & Wilcox Enterprises will post $0.73 EPS for the current fiscal year.
In other news, insider Jenny L. Apker acquired 12,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was bought at an average price of $16.58 per share, for a total transaction of $198,960.00. Following the transaction, the insider now owns 25,227 shares in the company, valued at $418,263.66. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman E James Ferland, Jr. acquired 40,000 shares of the business’s stock in a transaction on Friday, August 12th. The shares were purchased at an average price of $16.22 per share, with a total value of $648,800.00. Following the transaction, the chairman now owns 173,664 shares in the company, valued at approximately $2,816,830.08. The disclosure for this purchase can be found here. Company insiders own 1.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP boosted its position in Babcock & Wilcox Enterprises by 604.9% in the second quarter. Quantbot Technologies LP now owns 8,494 shares of the company’s stock worth $124,000 after buying an additional 7,289 shares during the period. Legal & General Group Plc boosted its position in Babcock & Wilcox Enterprises by 113.0% in the second quarter. Legal & General Group Plc now owns 10,225 shares of the company’s stock worth $149,000 after buying an additional 5,425 shares during the period. Strs Ohio bought a new position in Babcock & Wilcox Enterprises during the second quarter worth $151,000. Capstone Investment Advisors LLC bought a new position in Babcock & Wilcox Enterprises during the second quarter worth $173,000. Finally, Springbank Value Partners LP boosted its position in Babcock & Wilcox Enterprises by 17.1% in the second quarter. Springbank Value Partners LP now owns 13,700 shares of the company’s stock worth $201,000 after buying an additional 2,000 shares during the period. Institutional investors own 98.21% of the company’s stock.
About Babcock & Wilcox Enterprises
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: Global Power, Global Services and Industrial Environmental.
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