BWX Technologies, Inc. Announces Quarterly Dividend of $0.24 (NYSE:BWXT)

BWX Technologies, Inc. (NYSE:BWXT) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Friday, May 17th will be given a dividend of 0.24 per share by the technology company on Thursday, June 6th. This represents a $0.96 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, May 16th.

BWX Technologies has increased its dividend payment by an average of 6.6% annually over the last three years and has increased its dividend annually for the last 9 consecutive years. BWX Technologies has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Analysts expect BWX Technologies to earn $3.44 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 27.9%.

BWX Technologies Stock Down 12.0 %

NYSE:BWXT traded down $11.84 on Tuesday, reaching $87.04. 1,979,866 shares of the stock traded hands, compared to its average volume of 614,562. The company has a market capitalization of $7.96 billion, a price-to-earnings ratio of 32.30, a PEG ratio of 3.10 and a beta of 0.75. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.29. BWX Technologies has a 12 month low of $60.17 and a 12 month high of $107.18. The company’s fifty day simple moving average is $98.82 and its 200 day simple moving average is $86.25.

BWX Technologies (NYSE:BWXT) last released its quarterly earnings data on Monday, May 6th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $603.97 million during the quarter, compared to analyst estimates of $599.92 million. BWX Technologies had a net margin of 9.85% and a return on equity of 32.38%. BWX Technologies’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. Equities analysts predict that BWX Technologies will post 3.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BWXT has been the subject of a number of research analyst reports. Truist Financial reiterated a “hold” rating and issued a $95.00 price target (down from $110.00) on shares of BWX Technologies in a research note on Monday, March 25th. StockNews.com lowered shares of BWX Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Bank of America lifted their price target on shares of BWX Technologies from $82.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of BWX Technologies from $111.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $92.43.

BWX Technologies Company Profile

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.