Babcock (NYSE:BW) Releases Earnings Results, Misses Expectations By $0.57 EPS

Key Points

• Babcock reported quarterly EPS of ($0.60), missing analyst expectations of ($0.03) by $0.57.
• Revenue came in at $214.41 million, well above the consensus estimate of $149.72 million.
• The stock rose 21.6% on the day to $17.68, while analysts currently rate it a Hold with an average price target of $11.00.

Babcock (NYSE:BW - Get Free Report) issued its earnings results on Monday. The technology company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.57), FiscalAI reports. The firm had revenue of $214.41 million during the quarter, compared to analyst estimates of $149.72 million.

Babcock Trading Up 21.6%

Shares of NYSE:BW traded up $3.14 during trading on Monday, hitting $17.68. 4,996,355 shares of the company's stock traded hands, compared to its average volume of 3,812,999. The company has a 50-day moving average price of $14.62 and a 200-day moving average price of $9.57. Babcock has a 52 week low of $0.52 and a 52 week high of $18.80. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -32.88 and a beta of 1.08.

Analysts Set New Price Targets

A number of research analysts have commented on BW shares. Zacks Research upgraded Babcock to a "hold" rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Babcock in a report on Monday, April 20th. Northland Securities started coverage on shares of Babcock in a research report on Thursday, January 22nd. They set an "outperform" rating and a $10.00 target price for the company. Craig Hallum restated a "buy" rating and issued a $19.00 price objective on shares of Babcock in a research note on Tuesday, March 17th. Finally, Wall Street Zen raised shares of Babcock from a "hold" rating to a "buy" rating in a report on Saturday, March 21st. Three 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. Based on data from MarketBeat.com, Babcock has an average rating of "Hold" and a consensus target price of $11.00.

Insider Buying and Selling at Babcock

In other Babcock news, CEO Kenneth M. Young acquired 7,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were bought at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the completion of the acquisition, the chief executive officer directly owned 1,656,512 shares of the company's stock, valued at approximately $25,079,591.68. This trade represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Brc Group Holdings, Inc. sold 1,155,382 shares of Babcock stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $9.00, for a total transaction of $10,398,438.00. Additional details regarding this sale are available in the official SEC disclosure. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Babcock

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC increased its stake in shares of Babcock by 10.8% in the fourth quarter. Mariner LLC now owns 16,608 shares of the technology company's stock valued at $105,000 after buying an additional 1,620 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Babcock by 29.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 19,400 shares of the technology company's stock worth $123,000 after acquiring an additional 4,400 shares during the last quarter. State of Wyoming boosted its holdings 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. Centiva Capital LP acquired a new stake in Babcock during the 3rd quarter valued at approximately $31,000. Finally, Raymond James Financial Inc. raised its holdings 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 purchasing an additional 11,990 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.