Babcock (NYSE:BW) gapped up prior to trading on Thursday . The stock had previously closed at $3.86, but opened at $3.95. Babcock shares last traded at $4.14, with a volume of 3,124,959 shares trading hands.
A number of equities research analysts have recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Babcock in a research report on Friday, September 22nd. Zacks Investment Research downgraded shares of Babcock from a “hold” rating to a “strong sell” rating in a research report on Monday, August 14th. UBS AG downgraded shares of Babcock from a “buy” rating to a “neutral” rating and dropped their price target for the company from $13.00 to $3.00 in a research report on Monday, August 14th. Credit Suisse Group dropped their price target on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. Finally, BidaskClub downgraded shares of Babcock from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Babcock has a consensus rating of “Hold” and an average target price of $7.18.
The firm’s market capitalization is $202.36 million. The firm’s 50 day moving average price is $3.49 and its 200-day moving average price is $3.49.
Babcock (NYSE:BW) last posted its earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($2.68). Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. The firm had revenue of $349.80 million during the quarter, compared to analysts’ expectations of $434.34 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. Analysts predict that Babcock will post ($2.55) EPS for the current year.
In other news, major shareholder Vintage Capital Management Llc bought 1,686,945 shares of the stock in a transaction on Thursday, September 14th. The shares were acquired at an average cost of $3.10 per share, for a total transaction of $5,229,529.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 2.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BW. First Trust Advisors LP purchased a new stake in Babcock in the 1st quarter worth approximately $187,000. US Bancorp DE lifted its stake in Babcock by 77.2% in the 1st quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock worth $109,000 after purchasing an additional 5,083 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Babcock by 60.2% in the 1st quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock worth $169,000 after purchasing an additional 6,800 shares in the last quarter. Karp Capital Management Corp purchased a new stake in Babcock in the 1st quarter worth approximately $169,000. Finally, Prudential Financial Inc. lifted its stake in Babcock by 8.5% in the 1st quarter. Prudential Financial Inc. now owns 316,607 shares of the technology company’s stock worth $2,957,000 after purchasing an additional 24,841 shares in the last quarter. Institutional investors and hedge funds own 93.92% of the company’s stock.
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Babcock Company Profile
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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