Zacks Investment Research Lowers BWX Technologies (BWXT) to Strong Sell
Zacks Investment Research downgraded shares of BWX Technologies (NYSE:BWXT) from a hold rating to a strong sell rating in a report released on Thursday morning.
According to Zacks, “BWX Technologies, Inc. supplies precision manufactured components and services to the commercial nuclear power industry. The company offers technical, management and site services to governments in complex facilities and environmental remediation activities. It operates primarily in Lynchburg, Va., Ohio and Cambridge, Ontario. BWX Technologies, Inc., formerly known as Babcock & Wilcox Company, is headquartered in Lynchburg, Va. “
Several other equities analysts have also commented on the company. SunTrust Banks lowered BWX Technologies from a buy rating to a hold rating and dropped their target price for the company from $79.00 to $48.00 in a report on Wednesday, November 7th. ValuEngine lowered BWX Technologies from a hold rating to a sell rating in a report on Wednesday, November 7th. Credit Suisse Group dropped their target price on BWX Technologies from $60.00 to $46.00 and set a neutral rating on the stock in a report on Thursday, November 8th. Bank of America dropped their target price on BWX Technologies from $70.00 to $58.00 and set a neutral rating on the stock in a report on Thursday, November 8th. Finally, Maxim Group initiated coverage on BWX Technologies in a report on Tuesday, November 13th. They issued a buy rating and a $60.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $59.56.
BWX Technologies (NYSE:BWXT) last posted its earnings results on Tuesday, November 6th. The technology company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.22). The business had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $461.26 million. BWX Technologies had a net margin of 10.81% and a return on equity of 66.38%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. Analysts predict that BWX Technologies will post 2.46 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, November 20th will be paid a $0.16 dividend. The ex-dividend date is Monday, November 19th. This represents a $0.64 annualized dividend and a yield of 1.43%. BWX Technologies’s dividend payout ratio is presently 31.22%.
In other BWX Technologies news, CFO David S. Black sold 1,000 shares of the company’s stock in a transaction on Thursday, October 11th. The shares were sold at an average price of $57.65, for a total value of $57,650.00. Following the completion of the transaction, the chief financial officer now owns 68,570 shares in the company, valued at $3,953,060.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 3,000 shares of company stock valued at $165,510 in the last 90 days. 0.76% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC boosted its stake in BWX Technologies by 15.9% in the third quarter. William Blair Investment Management LLC now owns 6,647,175 shares of the technology company’s stock valued at $415,715,000 after acquiring an additional 911,880 shares in the last quarter. BlackRock Inc. boosted its stake in BWX Technologies by 2.9% in the third quarter. BlackRock Inc. now owns 6,131,318 shares of the technology company’s stock valued at $383,454,000 after acquiring an additional 171,620 shares in the last quarter. Brown Advisory Inc. boosted its stake in BWX Technologies by 12.5% in the third quarter. Brown Advisory Inc. now owns 5,076,657 shares of the technology company’s stock valued at $317,494,000 after acquiring an additional 563,539 shares in the last quarter. Wells Fargo & Company MN boosted its stake in BWX Technologies by 2.5% in the second quarter. Wells Fargo & Company MN now owns 2,899,523 shares of the technology company’s stock valued at $180,698,000 after acquiring an additional 69,903 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of BWX Technologies by 5.3% during the third quarter. Franklin Resources Inc. now owns 1,915,458 shares of the technology company’s stock worth $119,793,000 after buying an additional 96,700 shares during the period. Institutional investors own 93.87% of the company’s stock.
BWX Technologies Company Profile
BWX Technologies, Inc manufactures and sells nuclear components to the United States government. The company operates in three segments: Nuclear Operations, Technical Services, and Nuclear Energy. The Nuclear Operations segment offers precision naval nuclear components and reactors; close-tolerance and equipment for nuclear applications; and components for defense applications, as well as critical nuclear components, fuels, and assemblies for government and other uses.
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