Babcock (BW) Trading 5.4% Higher
Babcock (NYSE:BW) traded up 5.4% during mid-day trading on Friday . The company traded as high as $4.67 and last traded at $4.65. 680,700 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 1,464,310 shares. The stock had previously closed at $4.41.
A number of equities research analysts recently issued reports on the stock. KeyCorp restated a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Zacks Investment Research downgraded shares of Babcock from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. Finally, UBS downgraded shares of Babcock from a “buy” rating to a “neutral” rating and lowered their target price for the company from $13.00 to $3.00 in a report on Monday, August 14th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.18.
The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.03 and a current ratio of 1.17.
Babcock (NYSE:BW) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.25). Babcock had a negative return on equity of 50.88% and a negative net margin of 22.48%. The business had revenue of $408.70 million for the quarter, compared to analysts’ expectations of $413.41 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Babcock’s quarterly revenue was down .6% compared to the same quarter last year. equities analysts forecast that Babcock will post -3.07 EPS for the current year.
In other Babcock news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $3.10 per share, for a total transaction of $5,229,529.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Babcock by 30.9% in the second quarter. Public Employees Retirement System of Ohio now owns 9,330 shares of the technology company’s stock valued at $110,000 after purchasing an additional 2,200 shares during the period. Sei Investments Co. boosted its stake in shares of 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 purchasing an additional 2,940 shares during the period. ETRADE Capital Management LLC boosted its stake in shares of Babcock by 0.7% in the second quarter. ETRADE Capital Management LLC now owns 13,288 shares of the technology company’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Bayesian Capital Management LP purchased a new position in shares of Babcock in the second quarter valued at $174,000. Finally, US Bancorp DE boosted its stake in shares of Babcock by 31.3% in the second quarter. US Bancorp DE now owns 15,327 shares of the technology company’s stock valued at $180,000 after purchasing an additional 3,656 shares during the period. Institutional investors and hedge funds own 64.63% of the company’s stock.
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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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