Babcock (BW) Receives $5.23 Consensus PT from Analysts

Shares of Babcock (NYSE:BW) have been given an average rating of “Hold” by the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.23.

BW has been the subject of several research reports. BidaskClub cut Babcock from a “hold” rating to a “sell” rating in a report on Friday, July 28th. KeyCorp reaffirmed a “hold” rating on shares of Babcock in a report on Friday, September 22nd. Zacks Investment Research cut Babcock from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. UBS AG cut Babcock from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $3.00 in a report on Monday, August 14th. Finally, Credit Suisse Group reduced their price objective on Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th.

In other news, major shareholder Vintage Capital Management Llc acquired 1,686,945 shares of Babcock stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $3.10 per share, with a total value of $5,229,529.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Babcock by 8.0% during the second quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock worth $49,776,000 after buying an additional 312,969 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Babcock by 10.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,244,099 shares of the technology company’s stock worth $26,391,000 after buying an additional 209,171 shares in the last quarter. New York State Common Retirement Fund increased its position in Babcock by 21.9% during the second quarter. New York State Common Retirement Fund now owns 1,531,840 shares of the technology company’s stock worth $18,014,000 after buying an additional 275,399 shares in the last quarter. Teachers Advisors LLC increased its position in Babcock by 0.7% during the second quarter. Teachers Advisors LLC now owns 1,351,709 shares of the technology company’s stock worth $15,896,000 after buying an additional 9,872 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its position in Babcock by 34.9% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 1,231,004 shares of the technology company’s stock worth $14,477,000 after buying an additional 318,330 shares in the last quarter. 90.14% of the stock is owned by institutional investors.

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Babcock (BW) traded up $0.16 on Thursday, hitting $4.48. The stock had a trading volume of 1,126,109 shares, compared to its average volume of 1,665,322. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 0.67. Babcock has a 1-year low of $1.61 and a 1-year high of $17.72.

Babcock (NYSE:BW) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.25). The business had revenue of $408.70 million during the quarter, compared to analyst estimates of $413.41 million. Babcock had a negative net margin of 22.48% and a negative return on equity of 50.88%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. research analysts forecast that Babcock will post -3.07 EPS for the current fiscal year.

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.

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