Babcock (NYSE:BW) Stock Price Up 15.6% - What's Next?

Key Points

• Babcock shares surged 15.6% to $9.18 in mid-day trading, although volume was 66% below the average session level.
• Analyst sentiment remains mixed: the stock has an overall “Hold” rating and an average price target of $14.25, while Weiss Ratings maintained a “sell” rating and Wall Street Zen downgraded it to “hold.”
• Babcock reported a quarterly loss of $0.60 per share, missing estimates by $0.57, despite revenue of $214.4 million exceeding expectations; institutional investors own 83.17% of the shares.

Babcock (NYSE:BW - Get Free Report) shares were up 15.6% during mid-day trading on Thursday . The stock traded as high as $9.27 and last traded at $9.18. 1,319,050 shares were traded during trading, a decline of 66% from the average session volume of 3,857,420 shares. The stock had previously closed at $7.94.

Analyst Ratings Changes

BW has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Babcock in a research report on Friday, July 17th. Wall Street Zen downgraded Babcock from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Northland Securities set a $23.00 price objective on Babcock in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.25.

Babcock Stock Up 18.7%

The company's fifty day moving average price is $14.31 and its 200-day moving average price is $13.56. The stock has a market capitalization of $1.40 billion, a PE ratio of -10.69 and a beta of 1.16.

Babcock (NYSE:BW - Get Free Report) last issued 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. Equities research 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 modified their holdings of BW. Royal Bank of Canada boosted 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 purchasing an additional 650 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Babcock in the fourth quarter worth about $25,000. Huntington National Bank raised its holdings in Babcock by 400,000.0% in the fourth quarter. Huntington National Bank now owns 4,001 shares of the technology company's stock worth $25,000 after buying an additional 4,000 shares during the last quarter. State of Wyoming lifted its stake in shares of Babcock by 88.7% in the fourth quarter. State of Wyoming now owns 10,499 shares of the technology company's stock worth $67,000 after buying an additional 4,936 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Babcock during the third quarter valued at approximately $31,000. 83.17% of the stock is currently owned by institutional investors.

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.

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