Bowman Consulting Group (NASDAQ:BWMN) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• Bowman reported Q1 EPS of $0.14, missing estimates by $0.07 while revenue beat at $126.48 million versus a $114.49 million consensus; the company posted a net margin of 2.48% and a return on equity of 4.78%.
• The stock jumped to $34.00 (+$1.53) on higher-than-average volume; Bowman carries a market cap of $582.1M and a P/E of 47.9, with analysts split (three Buy, three Hold) and an average target of $45.50.
• CEO Gary Bowman sold 7,500 shares at an average $30.71 under a Rule 10b5-1 plan, and ownership is concentrated with institutions at 63.20% and insiders at 17.42%.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) announced its earnings results on Tuesday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.07), FiscalAI reports. The company had revenue of $126.48 million during the quarter, compared to the consensus estimate of $114.49 million. Bowman Consulting Group had a net margin of 2.48% and a return on equity of 4.78%.

Bowman Consulting Group Stock Performance

Shares of NASDAQ BWMN traded up $1.53 during midday trading on Tuesday, hitting $34.00. The company's stock had a trading volume of 140,680 shares, compared to its average volume of 89,551. The firm has a market capitalization of $582.08 million, a price-to-earnings ratio of 47.89, a P/E/G ratio of 1.91 and a beta of 1.36. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.22. The stock has a fifty day moving average price of $30.36 and a 200 day moving average price of $34.05. Bowman Consulting Group has a one year low of $22.30 and a one year high of $45.83.

Insider Transactions at Bowman Consulting Group

In other Bowman Consulting Group news, CEO Gary Bowman sold 7,500 shares of the stock in a transaction on Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total transaction of $230,325.00. Following the sale, the chief executive officer owned 1,353,338 shares in the company, valued at $41,561,009.98. This represents a 0.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.42% of the stock is owned by insiders.

Hedge Funds Weigh In On Bowman Consulting Group

A number of large investors have recently modified their holdings of BWMN. Invesco Ltd. raised its position in shares of Bowman Consulting Group by 35.2% in the fourth quarter. Invesco Ltd. now owns 10,954 shares of the company's stock worth $362,000 after buying an additional 2,852 shares in the last quarter. XTX Topco Ltd purchased a new stake in Bowman Consulting Group in the fourth quarter valued at approximately $600,000. VARCOV Co. bought a new stake in Bowman Consulting Group during the fourth quarter valued at approximately $296,000. Tudor Investment Corp ET AL grew its stake in Bowman Consulting Group by 10.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 103,461 shares of the company's stock worth $3,416,000 after buying an additional 10,035 shares in the last quarter. Finally, Polymer Capital Management US LLC grew its stake in Bowman Consulting Group by 15.3% in the 4th quarter. Polymer Capital Management US LLC now owns 7,225 shares of the company's stock worth $239,000 after buying an additional 959 shares in the last quarter. 63.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BWMN has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bowman Consulting Group in a report on Friday, March 27th. Wall Street Zen lowered Bowman Consulting Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 7th. Zacks Research lowered Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 4th. Robert W. Baird cut their price objective on Bowman Consulting Group from $43.00 to $37.00 and set an "outperform" rating on the stock in a research report on Friday, March 6th. Finally, JPMorgan Chase & Co. began coverage on Bowman Consulting Group in a research note on Friday, January 9th. They issued a "neutral" rating and a $40.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.50.

About Bowman Consulting Group

Bowman Consulting Group Ltd. NASDAQ: BWMN is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.

Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.

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