BidaskClub downgraded shares of Babcock (NYSE:BW) from a hold rating to a sell rating in a report published on Friday.

Several other brokerages have also recently weighed in on BW. Zacks Investment Research raised shares of Babcock from a strong sell rating to a hold rating in a research report on Tuesday, May 2nd. Sidoti lowered their price target on shares of Babcock from $13.00 to $9.00 and set a neutral rating on the stock in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Babcock presently has a consensus rating of Hold and an average target price of $14.80.

Shares of Babcock (NYSE BW) opened at 10.50 on Friday. The company’s 50-day moving average is $11.04 and its 200-day moving average is $11.71. The stock’s market cap is $512.73 million. Babcock has a 1-year low of $8.54 and a 1-year high of $17.72.

Babcock (NYSE:BW) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by $0.03. The firm had revenue of $391.10 million for the quarter, compared to analyst estimates of $416.44 million. Babcock had a negative net margin of 8.51% and a negative return on equity of 12.96%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 EPS. Equities analysts expect that Babcock will post $0.77 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first published by Watch List News and is the property of of Watch List News. If you are viewing this report on another domain, it was illegally copied and reposted in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/bidaskclub-downgrades-babcock-nysebw-to-sell/1465649.html.

Hedge funds have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Babcock by 77.2% in the first quarter. US Bancorp DE now owns 11,671 shares of the technology company’s stock valued at $109,000 after buying an additional 5,083 shares during the period. Cullen Capital Management LLC bought a new stake in shares of Babcock during the first quarter valued at about $114,000. Smith Salley & Associates bought a new stake in shares of Babcock during the first quarter valued at about $123,000. Sei Investments Co. raised its stake in shares of Babcock by 34.1% in the second quarter. Sei Investments Co. now owns 11,570 shares of the technology company’s stock valued at $136,000 after buying an additional 2,940 shares during the period. Finally, Wexford Capital LP raised its stake in shares of Babcock by 43.9% in the first quarter. Wexford Capital LP now owns 14,900 shares of the technology company’s stock valued at $139,000 after buying an additional 4,545 shares during the period. Hedge funds and other institutional investors own 92.25% of the company’s stock.

About Babcock

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.