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

Babcock (NYSE:BW) has been given an average rating of “Hold” by the six research firms that are covering the stock, MarketBeat Ratings reports. One investment 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 12-month price target among analysts that have covered the stock in the last year is $14.25.

A number of equities research analysts have recently commented on the stock. Northland Securities set a $23.00 target price on shares of Babcock in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research note on Friday.

Hedge Funds Weigh In On Babcock

Institutional investors have recently added to or reduced their stakes in the stock. Situational Awareness LP purchased a new stake in shares of Babcock in the fourth quarter valued at about $8,584,000. UBS Group AG increased its position in Babcock by 337.1% during the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after purchasing an additional 1,114,593 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Babcock during the fourth quarter worth about $569,000. Palumbo Wealth Management LLC raised its stake in Babcock by 38.1% during the fourth quarter. Palumbo Wealth Management LLC now owns 297,681 shares of the technology company’s stock worth $1,887,000 after purchasing an additional 82,118 shares during the period. Finally, Covestor Ltd boosted its holdings in Babcock by 25.2% in the 4th quarter. Covestor Ltd now owns 175,127 shares of the technology company’s stock valued at $1,110,000 after purchasing an additional 35,262 shares during the last quarter. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock Stock Performance

BW stock opened at $10.35 on Thursday. Babcock has a one year low of $0.87 and a one year high of $22.03. The firm’s fifty day moving average is $15.77 and its 200 day moving average is $13.40. The firm has a market cap of $1.54 billion, a PE ratio of -11.76 and a beta of 1.16.

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

About Babcock

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.