Babcock & Wilcox Enterprises Inc. (BW) Stock Rating Lowered by Credit Suisse Group AG
Babcock & Wilcox Enterprises Inc. (NYSE:BW) was downgraded by investment analysts at Credit Suisse Group AG from a “neutral” rating to an “underperform” rating in a report released on Thursday. They currently have a $16.00 price objective on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 1.91% from the company’s current price.
Several other analysts have also commented on BW. Zacks Investment Research lowered shares of Babcock & Wilcox Enterprises from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. KeyCorp restated an “outperform” rating and set a $22.00 target price on shares of Babcock & Wilcox Enterprises in a research report on Wednesday, August 24th.
Babcock & Wilcox Enterprises (NYSE:BW) traded down 3.56% during trading on Thursday, hitting $15.70. 955,764 shares of the company’s stock traded hands. The stock’s market cap is $784.72 million. The firm’s 50-day moving average price is $16.47 and its 200 day moving average price is $18.59. Babcock & Wilcox Enterprises has a 12-month low of $14.27 and a 12-month high of $23.99.
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Babcock & Wilcox Enterprises (NYSE:BW) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.05. The business earned $383.20 million during the quarter, compared to analyst estimates of $432.54 million. Babcock & Wilcox Enterprises had a negative net margin of 3.04% and a positive return on equity of 5.87%. The firm’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share. Analysts anticipate that Babcock & Wilcox Enterprises will post $0.73 earnings per share for the current fiscal year.
In related news, Chairman E James Ferland, Jr. purchased 40,000 shares of the business’s stock in a transaction on Friday, August 12th. The shares were bought at an average price of $16.22 per share, with a total value of $648,800.00. Following the completion of the purchase, the chairman now directly owns 173,664 shares in the company, valued at approximately $2,816,830.08. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jenny L. Apker purchased 12,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were bought at an average cost of $16.58 per share, for a total transaction of $198,960.00. Following the purchase, the insider now owns 25,227 shares of the company’s stock, valued at $418,263.66. The disclosure for this purchase can be found here. Corporate insiders own 1.50% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP increased its position in Babcock & Wilcox Enterprises by 604.9% in the second quarter. Quantbot Technologies LP now owns 8,494 shares of the company’s stock worth $124,000 after buying an additional 7,289 shares in the last quarter. Legal & General Group Plc increased its position in Babcock & Wilcox Enterprises by 113.0% in the second quarter. Legal & General Group Plc now owns 10,225 shares of the company’s stock worth $149,000 after buying an additional 5,425 shares in the last quarter. Strs Ohio bought a new position in Babcock & Wilcox Enterprises during the second quarter worth $151,000. Capstone Investment Advisors LLC bought a new position in Babcock & Wilcox Enterprises during the second quarter worth $173,000. Finally, Springbank Value Partners LP increased its position in Babcock & Wilcox Enterprises by 17.1% in the second quarter. Springbank Value Partners LP now owns 13,700 shares of the company’s stock worth $201,000 after buying an additional 2,000 shares in the last quarter. 98.19% of the stock is currently owned by institutional investors.
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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