Babcock & Wilcox Enterprises Inc. (BW) Shares Down 2.6%
Shares of Babcock & Wilcox Enterprises Inc. (NYSE:BW) traded down 2.6% during trading on Tuesday . The company traded as low as $16.00 and last traded at $16.04, with a volume of 138,463 shares changing hands. The stock had previously closed at $16.46.
A number of analysts have commented on the stock. KeyCorp reaffirmed an “outperform” rating and set a $22.00 price target on shares of Babcock & Wilcox Enterprises in a research report on Wednesday, August 24th. Zacks Investment Research cut shares of Babcock & Wilcox Enterprises from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 30th.
The company’s market cap is $800.71 million. The stock has a 50-day moving average price of $16.39 and a 200-day moving average price of $19.08.
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Babcock & Wilcox Enterprises (NYSE:BW) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.05. Babcock & Wilcox Enterprises had a positive return on equity of 5.87% and a negative net margin of 3.04%. The company had revenue of $383.20 million for the quarter, compared to the consensus estimate of $432.54 million. During the same period in the prior year, the firm posted $0.27 earnings per share. The business’s revenue was down 12.4% on a year-over-year basis. Equities analysts forecast that Babcock & Wilcox Enterprises Inc. will post $0.73 earnings per share for the current fiscal year.
In other news, Director Thomas A. Christopher acquired 2,466 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were purchased at an average price of $16.20 per share, for a total transaction of $39,949.20. Following the completion of the transaction, the director now owns 4,426 shares of the company’s stock, valued at $71,701.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jenny L. Apker acquired 12,000 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was purchased at an average price of $16.58 per share, for a total transaction of $198,960.00. Following the transaction, the insider now directly owns 25,227 shares of the company’s stock, valued at approximately $418,263.66. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its position in Babcock & Wilcox Enterprises by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,748,625 shares of the company’s stock worth $58,820,000 after buying an additional 148,661 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in Babcock & Wilcox Enterprises during the first quarter worth about $3,818,000. Aperio Group LLC boosted its position in Babcock & Wilcox Enterprises by 12.4% in the first quarter. Aperio Group LLC now owns 13,548 shares of the company’s stock worth $290,000 after buying an additional 1,498 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in Babcock & Wilcox Enterprises by 23.4% in the first quarter. TIAA CREF Investment Management LLC now owns 170,973 shares of the company’s stock worth $3,659,000 after buying an additional 32,438 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in Babcock & Wilcox Enterprises by 81.1% in the first quarter. Prudential Financial Inc. now owns 151,934 shares of the company’s stock worth $3,251,000 after buying an additional 68,030 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.
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: Global Power, Global Services and Industrial Environmental.
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