Babcock (NYSE:BW) Shares Down 7.3% – What’s Next?

Shares of Babcock (NYSE:BW) dropped 7.3% during trading on Monday . The stock traded as low as $20.03 and last traded at $20.2640. Approximately 711,891 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,944,268 shares. The stock had previously closed at $21.85.

Wall Street Analyst Weigh In

BW has been the topic of several recent research reports. Northland Securities set a $23.00 target price on shares of Babcock in a report on Tuesday, May 12th. Zacks Research raised shares of Babcock to a “hold” rating in a research report on Friday, January 23rd. Wall Street Zen cut shares of Babcock from a “buy” rating to a “hold” rating in a research report on Saturday. Craig Hallum reaffirmed a “buy” rating and issued a $19.00 price target on shares of Babcock in a research report on Tuesday, March 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Babcock in a research report on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $14.25.

Babcock Trading Down 5.6%

The firm’s 50-day moving average price is $15.81 and its two-hundred day moving average price is $10.24. The stock has a market cap of $2.81 billion, a PE ratio of -23.50 and a beta of 1.08.

Babcock (NYSE:BW) last released its quarterly earnings results on Monday, May 11th. The technology company reported ($0.60) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.57). The firm had revenue of $214.41 million for the quarter, compared to analyst estimates of $149.72 million. On average, analysts anticipate that Babcock will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Babcock

In other news, CEO Kenneth M. Young purchased 7,000 shares of the stock in a transaction dated Wednesday, March 18th. The shares were acquired at an average cost of $15.14 per share, for a total transaction of $105,980.00. Following the acquisition, the chief executive officer owned 1,656,512 shares of the company’s stock, valued at approximately $25,079,591.68. This represents a 0.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Babcock

A number of institutional investors have recently modified their holdings of BW. Marshall Wace LLP boosted its holdings in shares of Babcock by 93.0% in the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after buying an additional 190,814 shares in the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Babcock by 58.2% in the 2nd quarter. Nomura Holdings Inc. now owns 127,382 shares of the technology company’s stock valued at $123,000 after buying an additional 46,884 shares in the last quarter. AMH Equity Ltd acquired a new stake in Babcock in the 3rd quarter worth approximately $2,042,000. Platform Technology Partners acquired a new stake in Babcock in the 3rd quarter worth approximately $54,000. Finally, Covestor Ltd acquired a new position in Babcock during the 3rd quarter valued at approximately $406,000. 83.17% of the stock is currently owned by institutional investors.

Babcock Company Profile

Babcock & Wilcox Enterprises, Inc (NYSE: BW) is a specialized provider of energy and environmental technologies and services serving power generation and heavy industrial markets. The company designs, manufactures and maintains critical components and systems that support the safe and efficient operation of both fossil-fuel and renewable power facilities. Its core offerings include industrial and utility boilers, environmental control systems for emissions reduction, and aftermarket support services ranging from inspection and maintenance to spare parts management.

In addition to its boiler and emissions control portfolio, Babcock & Wilcox Enterprises delivers lifecycle solutions aimed at enhancing plant performance and compliance.