Babcock & Wilcox Enterprises (NYSE:BW) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Babcock & Wilcox Enterprises (NYSE:BW) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Babcock & Wilcox Enterprises, Inc. offers energy technology and services primarily for the nuclear, fossil and renewable power markets as well as a premier advanced technology and mission critical defense contractor. Babcock & Wilcox Enterprises, Inc. is headquartered in Charlotte, N.C. “

Separately, Credit Suisse Group upped their price objective on Babcock & Wilcox Enterprises to $6.00 and gave the company an underperform rating in a research note on Thursday, September 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Babcock & Wilcox Enterprises currently has a consensus rating of Hold and a consensus target price of $9.60.

BW opened at $6.27 on Wednesday. Babcock & Wilcox Enterprises has a 52-week low of $2.11 and a 52-week high of $9.90. The firm has a market capitalization of $538.10 million, a PE ratio of 10.81 and a beta of 2.77. The business’s 50-day simple moving average is $6.83 and its 200 day simple moving average is $7.58.

Babcock & Wilcox Enterprises (NYSE:BW) last released its earnings results on Wednesday, August 11th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.09. Babcock & Wilcox Enterprises had a negative return on equity of 12.36% and a net margin of 4.12%. The business had revenue of $202.90 million for the quarter, compared to analyst estimates of $170.50 million. On average, equities research analysts anticipate that Babcock & Wilcox Enterprises will post 0.16 earnings per share for the current year.

In other news, SVP John J. Dziewisz sold 25,000 shares of the stock in a transaction that occurred on Tuesday, August 17th. The stock was sold at an average price of $7.18, for a total transaction of $179,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John J. Dziewisz sold 9,200 shares of the stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $7.92, for a total value of $72,864.00. The disclosure for this sale can be found here. 35.90% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Sphinx Trading LP acquired a new stake in Babcock & Wilcox Enterprises during the third quarter worth approximately $3,802,000. Equitec Proprietary Markets LLC grew its position in Babcock & Wilcox Enterprises by 1.5% during the third quarter. Equitec Proprietary Markets LLC now owns 292,043 shares of the technology company’s stock worth $1,872,000 after buying an additional 4,400 shares in the last quarter. Eidelman Virant Capital acquired a new stake in shares of Babcock & Wilcox Enterprises in the 3rd quarter valued at $128,000. Virtu Financial LLC acquired a new stake in shares of Babcock & Wilcox Enterprises in the 2nd quarter valued at $240,000. Finally, Parametric Portfolio Associates LLC boosted its holdings in shares of Babcock & Wilcox Enterprises by 15.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,662 shares of the technology company’s stock valued at $147,000 after purchasing an additional 2,547 shares in the last quarter. 78.09% of the stock is currently owned by institutional investors and hedge funds.

About Babcock & Wilcox Enterprises

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.

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