Babcock (NYSE:BW) Posts Quarterly Earnings Results, Misses Estimates By $0.57 EPS

Babcock (NYSE:BW) posted its quarterly earnings data on Monday. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.57), FiscalAI reports. The firm had revenue of $214.41 million for the quarter, compared to analyst estimates of $149.72 million.

Babcock Trading Up 23.0%

BW stock traded up $3.34 on Monday, hitting $17.88. 5,149,864 shares of the company’s stock traded hands, compared to its average volume of 3,817,761. Babcock has a 1-year low of $0.52 and a 1-year high of $18.80. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of -33.03 and a beta of 1.08. The stock has a fifty day moving average of $14.62 and a 200-day moving average of $9.57.

Insider Activity at Babcock

In other Babcock news, CEO Kenneth M. Young bought 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 18th. The stock was acquired at an average cost of $15.14 per share, with a total value of $105,980.00. Following the completion of the purchase, the chief executive officer directly owned 1,656,512 shares in the company, valued at approximately $25,079,591.68. This trade represents a 0.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. The SEC filing for this sale provides additional information. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Babcock

Several hedge funds have recently made changes to their positions in the company. Mariner LLC lifted its position in shares of Babcock by 10.8% in the 4th quarter. Mariner LLC now owns 16,608 shares of the technology company’s stock valued at $105,000 after acquiring an additional 1,620 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Babcock by 29.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company’s stock valued at $123,000 after acquiring an additional 4,400 shares in the last quarter. State of Wyoming lifted its position in shares of Babcock by 88.7% in the 4th quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,936 shares in the last quarter. Centiva Capital LP purchased a new stake in shares of Babcock in the 3rd quarter valued at approximately $31,000. Finally, Raymond James Financial Inc. lifted its position in shares of Babcock by 11,311.3% in the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock valued at $35,000 after acquiring an additional 11,990 shares in the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Babcock from a “hold” rating to a “buy” rating in a report on Saturday, March 21st. Craig Hallum reiterated a “buy” rating and issued a $19.00 price objective on shares of Babcock in a report on Tuesday, March 17th. Zacks Research upgraded shares of Babcock to a “hold” rating in a report on Friday, January 23rd. Northland Securities assumed coverage on shares of Babcock in a report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Babcock Company Profile

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.