Babcock (BW) Announces Earnings Results
Babcock (NYSE:BW) posted its quarterly earnings results on Wednesday. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by $2.68, Morningstar.com reports. Babcock had a negative return on equity of 12.96% and a negative net margin of 8.51%. The business had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $434.34 million. During the same period in the prior year, the business posted ($0.20) earnings per share. The business’s quarterly revenue was down 8.7% compared to the same quarter last year.
Shares of Babcock (BW) traded down 56.21% during midday trading on Thursday, reaching $4.27. 2,030,644 shares of the company’s stock traded hands. The stock’s 50 day moving average is $10.81 and its 200-day moving average is $11.45. Babcock has a 52 week low of $3.93 and a 52 week high of $17.72. The company’s market capitalization is $208.51 million.
A number of equities research analysts have recently commented on BW shares. Zacks Investment Research raised shares of Babcock from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub cut shares of Babcock from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, Sidoti dropped their price objective on shares of Babcock from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.80.
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Hedge funds have recently bought and sold shares of the stock. Sei Investments Co. raised its stake in Babcock by 34.1% in the second quarter. Sei Investments Co. now owns 11,570 shares of the technology company’s stock valued at $136,000 after buying an additional 2,940 shares during the period. US Bancorp DE raised its stake in Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock valued at $109,000 after buying an additional 5,083 shares during the period. Cullen Capital Management LLC purchased a new stake in Babcock during the first quarter valued at $114,000. Smith Salley & Associates purchased a new stake in Babcock during the first quarter valued at $123,000. Finally, Wexford Capital LP raised its stake in Babcock by 43.9% in the first quarter. Wexford Capital LP now owns 14,900 shares of the technology company’s stock valued at $139,000 after buying an additional 4,545 shares during the period. 92.45% of the stock is currently owned by institutional investors.
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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