Babcock (NYSE:BW) Trading Down 7.4% – What’s Next?

Babcock (NYSE:BW)’s stock price traded down 7.4% on Wednesday . The stock traded as low as $13.14 and last traded at $13.05. 372,606 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 3,904,925 shares. The stock had previously closed at $14.10.

Analyst Upgrades and Downgrades

Several research firms have commented on BW. Craig Hallum restated a “buy” rating and issued a $19.00 target price on shares of Babcock in a research report on Tuesday, March 17th. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities set a $23.00 price objective on Babcock in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Babcock Stock Performance

The business’s 50 day moving average price is $17.03 and its two-hundred day moving average price is $12.84. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -14.94 and a beta of 1.10.

Babcock (NYSE:BW) last released its earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The business had revenue of $214.41 million during the quarter, compared to analysts’ expectations of $149.72 million. On average, sell-side analysts expect that Babcock will post 0.31 earnings per share for the current year.

Institutional Trading of Babcock

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Babcock by 57.3% in the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after acquiring an additional 650 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in Babcock in the 4th quarter worth about $25,000. Huntington National Bank increased its stake in Babcock by 400,000.0% in the 4th quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock worth $25,000 after purchasing an additional 4,000 shares in the last quarter. State of Wyoming raised its holdings in Babcock by 88.7% during the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock worth $67,000 after buying an additional 4,936 shares during the period. Finally, Centiva Capital LP purchased a new stake in Babcock during the third quarter valued at about $31,000. 83.17% of the stock is currently owned by institutional investors.

About Babcock

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.