Babcock (BW) Shares Gap Down to $3.81
Babcock (NYSE:BW)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.91, but opened at $3.81. Babcock shares last traded at $3.72, with a volume of 2,963,243 shares traded.
Several equities analysts have issued reports on BW shares. Credit Suisse Group dropped their target price on Babcock from $10.00 to $3.70 and set an “underperform” rating on the stock in a research report on Friday, August 11th. BidaskClub cut Babcock from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 9th. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $13.00 to $3.00 in a report on Monday, August 14th. KeyCorp restated a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Finally, Zacks Investment Research cut Babcock from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $7.18.
The stock’s market cap is $185.26 million. The firm has a 50 day moving average price of $3.44 and a 200-day moving average price of $3.44.
Babcock (NYSE:BW) last posted its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($2.68). Babcock had a negative net margin of 14.41% and a negative return on equity of 35.95%. The company had revenue of $349.80 million for the quarter, compared to analyst estimates of $434.34 million. During the same quarter in the prior year, the business earned ($0.20) EPS. Babcock’s revenue was down 8.7% compared to the same quarter last year. On average, equities analysts expect that Babcock will post ($2.51) earnings per share for the current year.
In related news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average price of $3.10 per share, for a total transaction of $5,229,529.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of BW. First Trust Advisors LP acquired a new position in Babcock in the first quarter worth approximately $187,000. US Bancorp DE grew its position in Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock worth $109,000 after buying an additional 5,083 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Babcock by 60.2% in the first quarter. UBS Asset Management Americas Inc. now owns 18,098 shares of the technology company’s stock worth $169,000 after buying an additional 6,800 shares during the last quarter. Karp Capital Management Corp acquired a new position in Babcock in the first quarter worth approximately $169,000. Finally, Prudential Financial Inc. grew its position in Babcock by 8.5% in the first quarter. Prudential Financial Inc. now owns 316,607 shares of the technology company’s stock worth $2,957,000 after buying an additional 24,841 shares during the last quarter. Hedge funds and other institutional investors own 93.92% of the company’s stock.
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.
Receive News & Ratings for Babcock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Babcock and related companies with Analyst Ratings Network's FREE daily email newsletter.