Babcock & Wilcox Enterprises Inc (NYSE:BW) dropped 2.5% during mid-day trading on Thursday . The company traded as low as $2.20 and last traded at $2.45. Approximately 1,744,938 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 1,809,613 shares. The stock had previously closed at $2.39.
BW has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Babcock & Wilcox Enterprises from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Credit Suisse Group dropped their price objective on shares of Babcock & Wilcox Enterprises from $4.30 to $3.50 and set an “underperform” rating for the company in a report on Monday, March 19th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $7.13.
The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $165.76, a price-to-earnings ratio of -0.60 and a beta of 1.82.
Babcock & Wilcox Enterprises (NYSE:BW) last announced its earnings results on Thursday, March 1st. The technology company reported ($0.95) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.89). The company had revenue of $408.10 million for the quarter, compared to analysts’ expectations of $432.71 million. Babcock & Wilcox Enterprises had a negative return on equity of 53.87% and a negative net margin of 24.38%. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the business earned ($1.60) EPS.
In related news, major shareholder Steel Partners Holdings L.P. bought 100,000 shares of the stock in a transaction on Thursday, February 8th. The stock was bought at an average price of $5.60 per share, with a total value of $560,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 1,512,713 shares of company stock valued at $9,137,998. 2.50% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Stone Ridge Asset Management LLC acquired a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter worth about $106,000. MetLife Investment Advisors LLC acquired a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter worth about $128,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter worth about $143,000. OppenheimerFunds Inc. acquired a new stake in shares of Babcock & Wilcox Enterprises during the fourth quarter worth about $165,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Babcock & Wilcox Enterprises by 36.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 35,829 shares of the technology company’s stock worth $203,000 after purchasing an additional 9,655 shares in the last quarter. 77.20% of the stock is owned by institutional investors.
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About Babcock & Wilcox Enterprises
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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