Babcock (NYSE:BW) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS
by Tristan Rich · The Markets DailyBabcock (NYSE:BW – Get Free Report) announced its quarterly earnings results on Tuesday. The technology company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.04, Zacks reports.
Babcock Stock Down 5.0%
NYSE:BW traded down $0.20 during trading hours on Tuesday, reaching $3.73. 3,479,530 shares of the company’s stock were exchanged, compared to its average volume of 1,938,500. The firm has a market capitalization of $376.59 million, a price-to-earnings ratio of -2.19 and a beta of 1.87. The company has a 50-day moving average of $3.00 and a 200 day moving average of $1.67. Babcock has a 1-year low of $0.22 and a 1-year high of $4.12.
Insider Buying and Selling at Babcock
In other news, CEO Kenneth M. Young acquired 20,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average cost of $1.51 per share, for a total transaction of $30,200.00. Following the transaction, the chief executive officer directly owned 261,745 shares in the company, valued at approximately $395,234.95. This represents a 8.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Cameron M. Frymyer acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $1.55 per share, with a total value of $31,000.00. Following the transaction, the chief financial officer owned 153,805 shares in the company, valued at $238,397.75. The trade was a 14.95% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 59,347 shares of company stock valued at $99,803. Corporate insiders own 3.90% of the company’s stock.
Hedge Funds Weigh In On Babcock
An institutional investor recently raised its position in Babcock stock. Marshall Wace LLP increased its stake in Babcock (NYSE:BW – Free Report) by 93.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,945 shares of the technology company’s stock after purchasing an additional 190,814 shares during the quarter. Marshall Wace LLP owned 0.40% of Babcock worth $380,000 at the end of the most recent quarter. 83.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently commented on BW shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Craig Hallum raised Babcock from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Finally, Wall Street Zen downgraded Babcock from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $3.00.
Read Our Latest Analysis on Babcock
Babcock Company Profile
Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.
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