Babcock (NYSE:BW) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $2.53 and last traded at $2.50, with a volume of 1,657,667 shares changing hands. The stock had previously closed at $2.69.
Several equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Babcock from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, July 3rd. Sidoti lowered their price objective on shares of Babcock from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 25th. BidaskClub cut shares of Babcock from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. UBS AG cut shares of Babcock from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $13.00 to $3.00 in a research report on Monday. Finally, Credit Suisse Group lowered their price objective on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $10.14.
The stock’s 50 day moving average is $9.33 and its 200-day moving average is $10.87. The company’s market capitalization is $105.89 million.
Babcock (NYSE:BW) last announced its quarterly earnings results on Wednesday, August 9th. The technology company reported ($2.63) earnings per share for the quarter, missing analysts’ consensus estimates 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) earnings per share. Babcock’s revenue was down 8.7% on a year-over-year basis. Equities analysts anticipate that Babcock will post ($1.92) earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of Babcock by 674.8% in the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 912,674 shares of the technology company’s stock worth $8,524,000 after buying an additional 794,874 shares in the last quarter. Brandes Investment Partners LP boosted its stake in shares of Babcock by 322.6% in the first quarter. Brandes Investment Partners LP now owns 973,934 shares of the technology company’s stock worth $9,096,000 after buying an additional 743,483 shares in the last quarter. Norges Bank acquired a new position in shares of Babcock during the fourth quarter worth $11,896,000. California Public Employees Retirement System boosted its position in shares of Babcock by 467.1% in the second quarter. California Public Employees Retirement System now owns 838,100 shares of the technology company’s stock worth $9,856,000 after buying an additional 690,300 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of Babcock by 535.0% in the second quarter. Great Lakes Advisors LLC now owns 720,147 shares of the technology company’s stock worth $8,469,000 after buying an additional 606,743 shares during the period. Institutional investors and hedge funds own 92.85% of the company’s stock.
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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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