Shares of Babcock (NYSE:BW – Get Free Report) have been assigned a consensus rating of “Hold” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $14.25.
A number of brokerages recently issued reports on BW. Northland Securities set a $23.00 price objective on Babcock in a research report on Tuesday, May 12th. Craig Hallum reiterated a “buy” rating and issued a $19.00 price objective on shares of Babcock in a research report on Tuesday, March 17th. Wall Street Zen downgraded Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th.
Babcock Price Performance
Babcock (NYSE:BW – Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The firm had revenue of $214.41 million during the quarter, compared to analysts’ expectations of $149.72 million. Sell-side analysts expect that Babcock will post 0.31 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Babcock
Institutional investors and hedge funds have recently made changes to their positions in the business. Situational Awareness LP purchased a new stake in shares of Babcock in the fourth quarter worth $8,584,000. UBS Group AG raised its position in shares of Babcock by 337.1% in the fourth quarter. UBS Group AG now owns 1,445,218 shares of the technology company’s stock worth $9,163,000 after buying an additional 1,114,593 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Babcock in the fourth quarter valued at $569,000. Palumbo Wealth Management LLC bought a new position in Babcock in the third quarter valued at $625,000. Finally, Legal & General Group Plc increased its stake in Babcock by 10.8% in the fourth quarter. Legal & General Group Plc now owns 5,380,991 shares of the technology company’s stock valued at $34,115,000 after acquiring an additional 523,776 shares during the last quarter. Hedge funds and other 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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