Babcock (NYSE:BW) Given Average Rating of “Hold” by Analysts

Babcock (NYSE:BW) has been given a consensus rating of “Hold” by the six ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $14.25.

A number of research analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Northland Securities set a $23.00 target price on shares of Babcock in a report on Tuesday, May 12th. Finally, Craig Hallum reiterated a “buy” rating and set a $19.00 price target on shares of Babcock in a report on Tuesday, March 17th.

Babcock Price Performance

Shares of NYSE BW opened at $17.38 on Friday. Babcock has a 1 year low of $0.87 and a 1 year high of $22.03. The stock has a market cap of $2.59 billion, a P/E ratio of -19.75 and a beta of 1.10. The firm has a 50-day moving average of $17.45 and a 200 day moving average of $12.36.

Babcock (NYSE:BW) last issued its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The company had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. Research analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Babcock

Several institutional investors and hedge funds have recently made changes to their positions in the company. NewEdge Advisors LLC bought a new stake in shares of Babcock during the first quarter valued at approximately $162,000. Bank of America Corp DE increased its position in shares of Babcock by 1,743.7% during the first quarter. Bank of America Corp DE now owns 1,096,502 shares of the technology company’s stock valued at $16,108,000 after acquiring an additional 1,037,028 shares in the last quarter. Royal Bank of Canada increased its position in shares of Babcock by 57.3% during the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock valued at $26,000 after acquiring an additional 650 shares in the last quarter. SummitTX Capital L.P. increased its position in shares of Babcock by 34.1% during the first quarter. SummitTX Capital L.P. now owns 17,842 shares of the technology company’s stock valued at $262,000 after acquiring an additional 4,538 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Babcock during the first quarter valued at approximately $1,874,000. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.