Bowman Consulting Group (NASDAQ:BWMN) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Bowman Consulting Group (NASDAQ:BWMN) posted its quarterly earnings data on Wednesday. The company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07, FiscalAI reports. Bowman Consulting Group had a return on equity of 6.30% and a net margin of 3.33%.The company had revenue of $128.96 million during the quarter, compared to analyst estimates of $129.12 million.

Bowman Consulting Group Trading Down 6.9%

Shares of BWMN traded down $2.28 during mid-day trading on Thursday, reaching $30.66. The stock had a trading volume of 74,526 shares, compared to its average volume of 115,852. Bowman Consulting Group has a 52-week low of $17.90 and a 52-week high of $45.83. The firm has a market cap of $532.56 million, a price-to-earnings ratio of 32.97, a P/E/G ratio of 1.95 and a beta of 1.34. The business’s fifty day moving average is $34.41 and its 200 day moving average is $37.61. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.30 and a quick ratio of 1.30.

Insiders Place Their Bets

In other news, CEO Gary Bowman sold 12,500 shares of the stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $35.37, for a total value of $442,125.00. Following the completion of the sale, the chief executive officer owned 879,943 shares of the company’s stock, valued at $31,123,583.91. This represents a 1.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 40,000 shares of company stock valued at $1,412,400. Insiders own 17.42% of the company’s stock.

Institutional Investors Weigh In On Bowman Consulting Group

A number of institutional investors and hedge funds have recently made changes to their positions in BWMN. Franklin Resources Inc. raised its stake in shares of Bowman Consulting Group by 3.8% in the third quarter. Franklin Resources Inc. now owns 10,289 shares of the company’s stock valued at $436,000 after acquiring an additional 377 shares in the last quarter. Deutsche Bank AG increased its holdings in Bowman Consulting Group by 4.9% during the 4th quarter. Deutsche Bank AG now owns 9,473 shares of the company’s stock worth $313,000 after purchasing an additional 444 shares during the period. Creative Planning raised its position in Bowman Consulting Group by 5.0% in the 3rd quarter. Creative Planning now owns 13,818 shares of the company’s stock valued at $585,000 after purchasing an additional 661 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Bowman Consulting Group by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,880 shares of the company’s stock valued at $558,000 after purchasing an additional 865 shares in the last quarter. Finally, Polymer Capital Management US LLC boosted its stake in shares of Bowman Consulting Group by 15.3% in the 4th quarter. Polymer Capital Management US LLC now owns 7,225 shares of the company’s stock valued at $239,000 after buying an additional 959 shares during the period. 63.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BWMN has been the topic of a number of research analyst reports. Roth Mkm lifted their price target on Bowman Consulting Group from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, December 8th. Wall Street Zen upgraded Bowman Consulting Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. JPMorgan Chase & Co. assumed coverage on shares of Bowman Consulting Group in a research note on Friday, January 9th. They set a “neutral” rating and a $40.00 target price on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Bowman Consulting Group in a research report on Monday, December 29th. Finally, Zacks Research downgraded shares of Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Bowman Consulting Group has a consensus rating of “Moderate Buy” and a consensus target price of $40.90.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.