Bowman Consulting Group (NASDAQ:BWMN) Issues Quarterly Earnings Results

Bowman Consulting Group (NASDAQ:BWMN) announced its quarterly earnings results on Friday. The company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.50 by ($0.62), FiscalAI reports. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%. The company had revenue of $148.70 million for the quarter, compared to analyst estimates of $137.54 million.

Bowman Consulting Group Stock Performance

BWMN stock traded down $0.01 on Friday, reaching $42.99. 1,683,467 shares of the company were exchanged, compared to its average volume of 379,314. The firm has a market capitalization of $713.37 million, a PE ratio of 107.49 and a beta of 1.47. Bowman Consulting Group has a 12 month low of $25.07 and a 12 month high of $43.22. The stock’s fifty day moving average price is $42.68 and its 200 day moving average price is $34.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.

Insiders Place Their Bets

In other Bowman Consulting Group news, Director Patricia Mulroy sold 883 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the sale, the director directly owned 26,330 shares in the company, valued at $1,115,602.10. This trade represents a 3.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 22,500 shares of the business’s stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total transaction of $957,375.00. Following the transaction, the chief executive officer owned 1,272,838 shares in the company, valued at approximately $54,159,256.90. The trade was a 1.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 60,883 shares of company stock valued at $2,590,413. Insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Bowman Consulting Group from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $40.00 to $43.00 in a report on Friday, August 21st. Capital One Financial set a $43.00 target price on shares of Bowman Consulting Group in a research report on Tuesday, August 11th. Wolfe Research set a $43.00 price target on shares of Bowman Consulting Group in a report on Tuesday, August 11th. B. Riley Financial downgraded Bowman Consulting Group from a “buy” rating to a “hold” rating in a research report on Monday, August 10th. Finally, Craig Hallum lowered Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Tuesday, August 11th. Seven research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $43.00.

Bowman Consulting Group Company Profile

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is an engineering services firm that provides infrastructure, planning, surveying, and consulting solutions to public- and private-sector clients. The company supports projects throughout their development and construction life cycles, serving markets such as transportation, power and utilities, commercial and residential real estate, and public infrastructure.

Its services include civil engineering, land surveying, geomatics, environmental consulting, landscape architecture, construction management, right-of-way services, and utility engineering.