Babcock & Wilcox Enterprises (NYSE:BW) had its price objective reduced by Credit Suisse Group from $4.30 to $3.50 in a research report sent to investors on Monday, March 19th. They currently have an underperform rating on the technology company’s stock.
Separately, Zacks Investment Research lowered Babcock & Wilcox Enterprises from a hold rating to a sell rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Babcock & Wilcox Enterprises presently has a consensus rating of Hold and an average target price of $7.13.
NYSE BW traded up $0.13 on Monday, reaching $2.52. The stock had a trading volume of 2,758,359 shares, compared to its average volume of 1,825,085. Babcock & Wilcox Enterprises has a 1 year low of $1.61 and a 1 year high of $12.06. The company has a market capitalization of $165.76, a P/E ratio of -0.60 and a beta of 1.82. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.98 and a quick ratio of 0.87.
Babcock & Wilcox Enterprises (NYSE:BW) last announced its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.89). Babcock & Wilcox Enterprises had a negative return on equity of 53.87% and a negative net margin of 24.38%. The company had revenue of $408.10 million during the quarter, compared to analyst estimates of $432.71 million. During the same period in the prior year, the firm earned ($1.60) EPS. Babcock & Wilcox Enterprises’s quarterly revenue was up 7.4% on a year-over-year basis.
In related news, major shareholder Steel Partners Holdings L.P. purchased 41,456 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $5.90 per share, with a total value of $244,590.40. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have acquired 1,512,713 shares of company stock worth $9,137,998. Company insiders own 2.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BW. Steel Partners Holdings L.P. acquired a new stake in Babcock & Wilcox Enterprises during the fourth quarter worth approximately $11,928,000. California Public Employees Retirement System lifted its position in Babcock & Wilcox Enterprises by 22.5% during the fourth quarter. California Public Employees Retirement System now owns 1,179,312 shares of the technology company’s stock worth $6,698,000 after acquiring an additional 216,239 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Babcock & Wilcox Enterprises by 55.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,042,918 shares of the technology company’s stock worth $5,924,000 after acquiring an additional 373,361 shares during the last quarter. State Street Corp lifted its position in Babcock & Wilcox Enterprises by 6.6% during the second quarter. State Street Corp now owns 941,018 shares of the technology company’s stock worth $11,065,000 after acquiring an additional 58,650 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Babcock & Wilcox Enterprises by 67.1% during the third quarter. Wells Fargo & Company MN now owns 895,970 shares of the technology company’s stock worth $2,983,000 after acquiring an additional 359,753 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.
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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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