Babcock & Wilcox (NYSE:BW) issued its earnings results on Tuesday. The technology company reported ($2.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($2.00), Briefing.com reports. The company had revenue of $311.40 million for the quarter, compared to the consensus estimate of $385.70 million. Babcock & Wilcox had a negative return on equity of 97.00% and a negative net margin of 33.38%. The firm’s revenue was down 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 earnings per share.
Shares of NYSE BW opened at $2.69 on Thursday. The stock has a market cap of $114.62 million, a price-to-earnings ratio of -0.67 and a beta of 1.90. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 0.98.
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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Babcock & Wilcox from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Credit Suisse Group cut their target price on shares of Babcock & Wilcox from $4.30 to $3.50 and set an “underperform” rating on the stock in a research note on Monday, March 19th. Three research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.13.
In related news, major shareholder Steel Partners Holdings L.P. bought 3,400,809 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The shares were acquired at an average cost of $2.00 per share, with a total value of $6,801,618.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have purchased 4,813,522 shares of company stock worth $15,379,616. 3.60% of the stock is owned by insiders.
Babcock & Wilcox Company Profile
Babcock & Wilcox Enterprises, Inc provides fossil and renewable power generation and environmental equipment for the power and industrial markets worldwide. Its Power segment offers boiler cleaning and material handling equipment; and supercritical, subcritical, fluidized bed, chemical recovery, industrial power, package, and waste heat boilers, as well as heat recovery steam generators.