Babcock (BW) Issues Quarterly Earnings Results, Misses Estimates By $0.25 EPS
Babcock (NYSE:BW) released its quarterly earnings data on Wednesday. The technology company reported ($0.49) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.25), RTT News reports. The business had revenue of $408.70 million during the quarter, compared to the consensus estimate of $413.41 million. Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The business’s revenue was down .6% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share.
Babcock (NYSE BW) traded down $0.11 during midday trading on Wednesday, hitting $3.91. The stock had a trading volume of 2,028,649 shares, compared to its average volume of 1,620,806. The company has a current ratio of 1.11, a quick ratio of 0.99 and a debt-to-equity ratio of 0.28. Babcock has a 12-month low of $1.61 and a 12-month high of $17.72.
In other news, major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of the stock in a transaction dated Thursday, September 14th. The shares were purchased at an average cost of $3.10 per share, with a total value of $5,229,529.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.50% of the stock is owned by corporate insiders.
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BW has been the topic of several analyst reports. Zacks Investment Research cut Babcock from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BidaskClub cut Babcock from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Credit Suisse Group lowered their price target on Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a report on Friday, August 11th. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and lowered their price target for the company from $13.00 to $3.00 in a report on Monday, August 14th. Finally, KeyCorp reissued a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Babcock presently has a consensus rating of “Hold” and an average target price of $7.18.
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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