Babcock (NYSE:BW) Shares Down 8.9% – Here’s Why

Babcock (NYSE:BWGet Free Report)’s share price was down 8.9% on Friday . The stock traded as low as $10.13 and last traded at $10.0350. Approximately 235,111 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 3,864,232 shares. The stock had previously closed at $11.01.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BW. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a report on Friday, July 17th. Northland Securities set a $23.00 price target on shares of Babcock in a report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $14.25.

Read Our Latest Report on Babcock

Babcock Trading Down 6.4%

The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -11.68 and a beta of 1.16. The company has a fifty day simple moving average of $15.21 and a 200-day simple moving average of $13.50.

Babcock (NYSE:BWGet 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 business had revenue of $214.41 million for the quarter, compared to the consensus estimate of $149.72 million. As a group, analysts anticipate that Babcock will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Babcock

Several institutional investors and hedge funds have recently added to or reduced their stakes in BW. Huntington National Bank lifted its holdings in shares of 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 purchasing an additional 4,000 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new position in Babcock during the fourth quarter valued at $25,000. Royal Bank of Canada lifted its stake in Babcock by 57.3% in the 1st quarter. Royal Bank of Canada now owns 1,785 shares of the technology company’s stock worth $26,000 after acquiring an additional 650 shares in the last quarter. Centiva Capital LP acquired a new stake in Babcock during the 3rd quarter worth about $31,000. Finally, Raymond James Financial Inc. boosted its position in Babcock by 11,311.3% during the 3rd quarter. Raymond James Financial Inc. now owns 12,096 shares of the technology company’s stock worth $35,000 after acquiring an additional 11,990 shares during the period. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

About Babcock

(Get Free Report)

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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