Babcock (NYSE:BW) Releases Earnings Results, Hits Estimates

Babcock (NYSE:BW) released its quarterly earnings results on Monday. The technology company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03, FiscalAI reports. Babcock had a negative net margin of 2.17% and a negative return on equity of 4.51%. The business had revenue of $290.80 million for the quarter, compared to the consensus estimate of $226.45 million.

Babcock Stock Performance

Shares of NYSE BW traded up $0.54 during mid-day trading on Monday, hitting $3.79. The company had a trading volume of 7,925,258 shares, compared to its average volume of 4,245,381. The company has a debt-to-equity ratio of 4.21, a current ratio of 1.45 and a quick ratio of 1.33. The business’s 50-day simple moving average is $5.72 and its 200-day simple moving average is $11.31. Babcock has a 12 month low of $3.07 and a 12 month high of $22.03. The firm has a market cap of $563.81 million, a P/E ratio of -21.03 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Philip Moeller acquired 5,000 shares of Babcock stock in a transaction on Thursday, August 13th. The stock was bought at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the transaction, the director owned 240,809 shares of the company’s stock, valued at $2,287,685.50. The trade was a 2.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on BW. Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Finally, Needham & Company LLC started coverage on Babcock in a research note on Monday, August 31st. They set a “buy” rating and a $20.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Babcock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

About Babcock

Babcock & Wilcox Enterprises, Inc is an energy and environmental technology company that provides equipment, systems and services for power generation, industrial operations and waste management. Its offerings include steam-generating technologies, boilers, emissions-control systems, construction and maintenance services, and related engineering support.

The company also develops technologies for renewable energy and waste conversion, including solutions designed to transform waste and biomass into useful heat and power.