Babcock (NYSE:BW) Stock Rating Lowered by Wall Street Zen

Key Points

• Babcock's stock rating has been downgraded by Wall Street Zen from a "hold" to a "sell" rating.
• Following the downgrade, shares of Babcock (NYSE:BW) fell by 6.8%, with the stock opening at $1.57.
• The company reported earnings of -$0.10 per share, missing estimates, and generated revenue of $144.10 million against a consensus of $182.07 million.

Babcock (NYSE:BW - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Babcock Trading Down 6.8%

Shares of BW stock opened at $1.57 on Friday. The stock has a 50 day moving average of $1.10 and a 200 day moving average of $0.91. The stock has a market cap of $158.22 million, a P/E ratio of -0.92 and a beta of 1.72. Babcock has a twelve month low of $0.22 and a twelve month high of $2.99.

Babcock (NYSE:BW - Get Free Report) last announced its quarterly earnings results on Monday, August 11th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The company had revenue of $144.10 million during the quarter, compared to the consensus estimate of $182.07 million.

Institutional Trading of Babcock

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets purchased a new stake in shares of Babcock in the fourth quarter valued at approximately $27,000. Boothbay Fund Management LLC purchased a new stake in shares of Babcock during the fourth quarter worth approximately $38,000. Two Sigma Advisers LP increased its position in shares of Babcock by 106.7% during the fourth quarter. Two Sigma Advisers LP now owns 26,734 shares of the technology company's stock worth $44,000 after purchasing an additional 13,800 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Babcock during the fourth quarter worth approximately $46,000. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Babcock during the fourth quarter worth approximately $57,000. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

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