Babcock (NYSE:BW) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Babcock (NYSE:BW) issued its quarterly earnings data on Wednesday. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01), Zacks reports. The company had revenue of $161.00 million for the quarter, compared to the consensus estimate of $179.10 million.

Babcock Price Performance

Babcock stock traded up $0.65 during trading hours on Friday, hitting $13.94. 1,281,300 shares of the stock traded hands, compared to its average volume of 3,413,120. The firm’s 50 day moving average price is $8.74 and its 200-day moving average price is $5.69. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -25.81 and a beta of 1.54. Babcock has a 1 year low of $0.22 and a 1 year high of $13.99.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BW shares. Zacks Research upgraded Babcock to a “hold” rating in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Babcock from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. DA Davidson boosted their price objective on shares of Babcock from $1.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Wednesday, January 21st. Finally, Northland Securities began coverage on Babcock in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Babcock presently has a consensus rating of “Hold” and a consensus price target of $8.00.

Insider Activity at Babcock

In related news, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $9.00, for a total value of $10,398,438.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd lifted its position in Babcock by 231.3% during the fourth quarter. XTX Topco Ltd now owns 260,360 shares of the technology company’s stock valued at $1,651,000 after purchasing an additional 181,768 shares during the period. SummitTX Capital L.P. purchased a new stake in shares of Babcock in the fourth quarter worth about $84,000. Saba Capital Management L.P. acquired a new stake in Babcock during the fourth quarter worth about $4,318,000. Engineers Gate Manager LP acquired a new stake in Babcock during the fourth quarter worth about $165,000. Finally, Cinctive Capital Management LP purchased a new position in Babcock during the fourth quarter valued at approximately $183,000. Hedge funds and other institutional investors own 83.17% of the company’s stock.

Babcock Company Profile

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.