Broadwind (NASDAQ:BWEN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Broadwind (NASDAQ:BWEN) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01, Yahoo Finance reports. The firm had revenue of $36.45 million during the quarter, compared to the consensus estimate of $37.13 million. Broadwind had a return on equity of 15.41% and a net margin of 4.36%. During the same period in the previous year, the firm posted $0.07 EPS. Broadwind updated its Q3 2024 guidance to EPS.

Broadwind Trading Up 7.5 %

Broadwind stock traded up $0.16 during trading on Thursday, reaching $2.30. The company had a trading volume of 187,692 shares, compared to its average volume of 155,238. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.53 and a current ratio of 1.47. The firm has a market capitalization of $49.99 million, a price-to-earnings ratio of 5.92 and a beta of 1.44. Broadwind has a 12-month low of $2.01 and a 12-month high of $4.81. The stock’s 50 day moving average price is $3.32 and its two-hundred day moving average price is $2.85.

Analyst Ratings Changes

BWEN has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of Broadwind in a report on Wednesday. Craig Hallum reduced their target price on shares of Broadwind from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Broadwind from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Roth Mkm reduced their price objective on shares of Broadwind from $4.00 to $3.50 and set a “buy” rating on the stock in a research note on Wednesday.

Insider Buying and Selling at Broadwind

In other Broadwind news, insider Daniel E. Schueller sold 5,800 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $4.53, for a total transaction of $26,274.00. Following the completion of the sale, the insider now directly owns 146,694 shares in the company, valued at $664,523.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.70% of the stock is owned by company insiders.

About Broadwind

Broadwind, Inc manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets.