BidaskClub Downgrades Babcock (NYSE:BW) to Sell
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.
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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.
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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