Babcock (NYSE:BW) Issues Quarterly Earnings Results, Meets Expectations

Babcock (NYSE:BW) issued its quarterly earnings data on Monday. The technology company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03, FiscalAI reports. Babcock had a negative return on equity of 4.51% and a negative net margin of 2.17%. The business had revenue of $290.80 million for the quarter, compared to the consensus estimate of $226.45 million.

Babcock Stock Up 16.5%

Shares of NYSE:BW traded up $0.54 during mid-day trading on Monday, reaching $3.79. 8,342,772 shares of the stock were exchanged, compared to its average volume of 4,255,195. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 4.21. The company has a market cap of $563.81 million, a P/E ratio of -21.03 and a beta of 1.24. Babcock has a one year low of $3.07 and a one year high of $22.03. The stock’s 50 day simple moving average is $5.72 and its 200-day simple moving average is $11.31.

Insider Buying and Selling

In other news, Director Philip Moeller bought 5,000 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were purchased at an average price of $9.50 per share, for a total transaction of $47,500.00. Following the purchase, the director owned 240,809 shares of the company’s stock, valued at approximately $2,287,685.50. The trade was a 2.12% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BW. Weiss Ratings upgraded Babcock from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered Babcock from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Finally, Needham & Company LLC initiated coverage on Babcock in a research note on Monday, August 31st. They set a “buy” rating and a $20.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $17.00.

About Babcock

Babcock & Wilcox Enterprises, Inc is an energy and environmental technology company that provides equipment, systems and services for power generation, industrial operations and waste management. Its offerings include steam-generating technologies, boilers, emissions-control systems, construction and maintenance services, and related engineering support.

The company also develops technologies for renewable energy and waste conversion, including solutions designed to transform waste and biomass into useful heat and power.