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

Key Points

• Bowman reported a quarterly loss of $0.12 per share, missing the $0.50 consensus estimate by $0.62, while revenue of $148.7 million exceeded forecasts of $137.5 million.
• Analyst sentiment was mostly cautious: seven analysts rated the stock Hold and one rated it Sell, producing a consensus “Reduce” rating and a $43 average price target.
• CEO Gary Bowman sold 37,500 shares for about $1.60 million under a pre-arranged trading plan; insiders sold 60,883 shares worth roughly $2.59 million over the quarter.

Bowman Consulting Group (NASDAQ:BWMN - Get Free Report) issued its quarterly earnings data on Friday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.50 by ($0.62), FiscalAI reports. The business had revenue of $148.70 million for the quarter, compared to analyst estimates of $137.54 million. Bowman Consulting Group had a return on equity of 2.67% and a net margin of 1.30%.

Bowman Consulting Group Stock Down 0.0%

Shares of NASDAQ:BWMN traded down $0.01 during trading on Friday, hitting $42.99. The company's stock had a trading volume of 1,683,467 shares, compared to its average volume of 379,314. Bowman Consulting Group has a fifty-two week low of $25.07 and a fifty-two week high of $43.22. The business has a 50 day moving average price of $42.68 and a two-hundred day moving average price of $34.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market capitalization of $713.37 million, a PE ratio of 107.49 and a beta of 1.47.

Insiders Place Their Bets

In other Bowman Consulting Group news, CEO Gary Bowman sold 37,500 shares of the company'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 $1,595,625.00. Following the sale, the chief executive officer owned 780,948 shares in the company, valued at $33,229,337.40. This represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Patricia Mulroy sold 883 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $42.37, for a total value of $37,412.71. Following the completion of the sale, the director directly owned 26,330 shares in the company, valued at $1,115,602.10. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 60,883 shares of company stock valued at $2,590,413. 17.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BWMN. Wall Street Zen upgraded shares of Bowman Consulting Group from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Texas Capital downgraded Bowman Consulting Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Wolfe Research set a $43.00 target price on Bowman Consulting Group in a research note on Tuesday, August 11th. Craig Hallum cut Bowman Consulting Group from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Tuesday, August 11th. Finally, Roth Capital downgraded Bowman Consulting Group from a "buy" rating to a "neutral" rating and set a $43.00 target price for the company. in a research report on Wednesday, August 12th. Seven analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Bowman Consulting Group has a consensus rating of "Reduce" and an average target price of $43.00.

About Bowman Consulting Group

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.

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