Babcock (NYSE:BW – Get Free Report)’s share price traded down 10.3% during mid-day trading on Wednesday . The stock traded as low as $14.31 and last traded at $14.2550. 3,543,526 shares were traded during trading, a decline of 6% from the average session volume of 3,780,677 shares. The stock had previously closed at $15.90.
Analyst Ratings Changes
Several analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Monday, April 20th. Wall Street Zen cut Babcock from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 target price on shares of Babcock in a research report on Tuesday, March 17th. Finally, Northland Securities set a $23.00 price target on Babcock in a report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.25.
Read Our Latest Stock Report on Babcock
Babcock Stock Performance
Babcock (NYSE:BW – Get Free Report) last announced its earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.57). The firm had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. As a group, equities research analysts forecast that Babcock will post 0.31 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in Babcock by 57.3% during the first quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after buying an additional 650 shares in the last quarter. Rockefeller Capital Management L.P. bought a new stake in shares of Babcock during the 4th quarter worth approximately $25,000. Huntington National Bank increased its stake in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company’s stock valued at $25,000 after acquiring an additional 4,000 shares during the last quarter. State of Wyoming increased its stake in Babcock by 88.7% in the fourth quarter. State of Wyoming now owns 10,499 shares of the technology company’s stock valued at $67,000 after acquiring an additional 4,936 shares during the last quarter. Finally, Centiva Capital LP acquired a new position in Babcock during the third quarter valued at approximately $31,000. Institutional investors own 83.17% of the company’s stock.
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.
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