Broadwind Energy, Inc. (BWEN) Releases Q3 Earnings Guidance

Broadwind Energy, Inc. (NASDAQ:BWEN) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of ($0.15)-(0.17) for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.02. The company issued revenue guidance of $30 million, compared to the consensus revenue estimate of $41.25 million.

Broadwind Energy, Inc. (NASDAQ BWEN) opened at 3.11 on Friday. The firm has a 50-day moving average of $4.17 and a 200 day moving average of $5.61. The firm has a market cap of $46.76 million, a price-to-earnings ratio of 7.07 and a beta of 1.53. Broadwind Energy, Inc. has a 52-week low of $3.01 and a 52-week high of $9.80.

Broadwind Energy (NASDAQ:BWEN) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported ($0.05) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The business had revenue of $43.40 million during the quarter, compared to the consensus estimate of $43.17 million. Broadwind Energy had a net margin of 3.53% and a return on equity of 3.27%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Broadwind Energy, Inc. will post $0.13 earnings per share for the current year.

Several brokerages have commented on BWEN. Zacks Investment Research downgraded shares of Broadwind Energy from a hold rating to a sell rating in a research note on Tuesday, August 8th. Roth Capital set a $5.00 target price on shares of Broadwind Energy and gave the company a buy rating in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed an outperform rating and issued a $8.00 target price (down previously from $9.00) on shares of Broadwind Energy in a research note on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Broadwind Energy from a hold rating to a sell rating in a research note on Saturday, June 3rd. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $6.58.

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About Broadwind Energy

Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.

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