Short Interest in Babcock & Wilcox Co Decreases By 75.7% (BWC)
Babcock & Wilcox Co (NYSE:BWC) saw a significant drop in short interest in the month of June. As of June 13th, there was short interest totalling 1,897,024 shares, a drop of 75.7% from the May 30th total of 7,812,221 shares, American Banking & Market News reports. Based on an average daily trading volume, of 983,836 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.7% of the company’s shares are sold short.
Several analysts have recently commented on the stock. Analysts at Davidson raised their price target on shares of Babcock & Wilcox Co from $34.00 to $37.00 in a research note on Wednesday, May 14th. Separately, analysts at Barclays reiterated an “equal weight” rating on shares of Babcock & Wilcox Co in a research note on Monday, April 21st. They now have a $37.00 price target on the stock. Finally, analysts at Johnson Rice raised their price target on shares of Babcock & Wilcox Co from $38.00 to $40.00 in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. Babcock & Wilcox Co presently has a consensus rating of “Hold” and a consensus target price of $36.08.
Shares of Babcock & Wilcox Co (NYSE:BWC) opened at 32.88 on Tuesday. Babcock & Wilcox Co has a 52 week low of $29.95 and a 52 week high of $36.00. The stock’s 50-day moving average is $32.35 and its 200-day moving average is $33.47. The company has a market cap of $3.626 billion and a P/E ratio of 10.71.
Babcock & Wilcox Co (NYSE:BWC) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.42 EPS for the quarter, missing the Thomson Reuters consensus estimate of $42.00 by $41.58. The company had revenue of $662.00 million for the quarter, compared to the consensus estimate of $704.81 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The company’s quarterly revenue was down 17.8% on a year-over-year basis. On average, analysts predict that Babcock & Wilcox Co will post $2.12 earnings per share for the current fiscal year.
The Babcock & Wilcox Company (NYSE:BWC) is a technology innovator in power generation systems, a specialty constructor of nuclear components and a service provider in its segments.
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