Babcock (NYSE:BW) Issues Earnings Results

Babcock (NYSE:BW) released its quarterly earnings data on Tuesday. The technology company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04, Zacks reports.

Babcock Stock Down 5.0%

NYSE:BW traded down $0.20 on Tuesday, hitting $3.73. The stock had a trading volume of 3,479,530 shares, compared to its average volume of 1,938,500. The stock has a market cap of $376.59 million, a price-to-earnings ratio of -2.19 and a beta of 1.87. The company has a fifty day moving average price of $3.00 and a two-hundred day moving average price of $1.67. Babcock has a 1-year low of $0.22 and a 1-year high of $4.12.

Wall Street Analyst Weigh In

BW has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Babcock from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Finally, Craig Hallum upgraded shares of Babcock from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $3.00.

Insider Activity

In other news, CFO Cameron M. Frymyer bought 20,000 shares of the firm’s stock in a transaction on Tuesday, August 19th. The shares were bought at an average cost of $1.55 per share, for a total transaction of $31,000.00. Following the acquisition, the chief financial officer directly owned 153,805 shares of the company’s stock, valued at $238,397.75. This trade represents a 14.95% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kenneth M. Young purchased 20,000 shares of Babcock stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of $1.51 per share, for a total transaction of $30,200.00. Following the completion of the purchase, the chief executive officer directly owned 261,745 shares in the company, valued at approximately $395,234.95. This trade represents a 8.27% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 59,347 shares of company stock worth $99,803 over the last quarter. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Babcock

A hedge fund recently raised its stake in Babcock stock. Marshall Wace LLP raised its position in Babcock (NYSE:BW) by 93.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 395,945 shares of the technology company’s stock after purchasing an additional 190,814 shares during the period. Marshall Wace LLP owned 0.40% of Babcock worth $380,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.