Babcock (BW) Stock Rating Reaffirmed by KeyCorp
Babcock (NYSE:BW)‘s stock had its “hold” rating restated by research analysts at KeyCorp in a note issued to investors on Friday.
A number of other equities research analysts have also recently issued reports on BW. Sidoti lowered their price objective on Babcock from $13.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, May 25th. Zacks Investment Research raised Babcock from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Monday, July 3rd. BidaskClub lowered Babcock from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Credit Suisse Group reduced their target price on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. Finally, UBS AG lowered Babcock from a “buy” rating to a “neutral” rating and reduced their target price for the company from $13.00 to $3.00 in a report on Monday, August 14th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.18.
Shares of Babcock (NYSE BW) opened at 3.50 on Friday. Babcock has a 52 week low of $2.51 and a 52 week high of $17.72. The firm’s 50-day moving average is $3.20 and its 200-day moving average is $3.20. The firm’s market capitalization is $171.08 million.
Babcock (NYSE:BW) last announced its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($2.68). Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The firm had revenue of $349.80 million during the quarter, compared to the consensus estimate of $434.34 million. During the same quarter in the prior year, the firm posted ($0.20) earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. Equities analysts anticipate that Babcock will post ($2.46) EPS for the current year.
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In related news, major shareholder Vintage Capital Management Llc bought 1,686,945 shares of Babcock stock in a transaction on Thursday, September 14th. The stock was acquired at an average price of $3.10 per share, with a total value of $5,229,529.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew 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 worth $19,006,000 after purchasing an additional 458,237 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Babcock by 0.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 282,251 shares of the technology company’s stock worth $2,637,000 after purchasing an additional 2,430 shares in the last quarter. Clearline Capital LP purchased a new position in shares of Babcock during the first quarter worth about $885,000. Vanguard Group Inc. grew 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 worth $36,610,000 after purchasing an additional 160,524 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Babcock during the first quarter worth about $198,000. 93.81% of the stock is 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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