Northland Capmk Comments on Northwest Pipe’s Q2 2024 Earnings (NASDAQ:NWPX)

Northwest Pipe (NASDAQ:NWPX) – Equities research analysts at Northland Capmk lifted their Q2 2024 earnings per share (EPS) estimates for Northwest Pipe in a research note issued on Monday, May 6th. Northland Capmk analyst E. Jackson now anticipates that the industrial products company will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.71. The consensus estimate for Northwest Pipe’s current full-year earnings is $2.31 per share. Northland Capmk also issued estimates for Northwest Pipe’s Q3 2024 earnings at $0.79 EPS, FY2024 earnings at $2.65 EPS, FY2026 earnings at $2.65 EPS, FY2027 earnings at $2.55 EPS and FY2028 earnings at $2.48 EPS.

Northwest Pipe (NASDAQ:NWPX) last issued its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.18. Northwest Pipe had a return on equity of 7.11% and a net margin of 5.22%. The firm had revenue of $113.22 million for the quarter, compared to analysts’ expectations of $103.20 million. During the same quarter in the previous year, the firm posted $0.23 EPS.

A number of other equities research analysts have also recently weighed in on the company. TheStreet upgraded Northwest Pipe from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. DA Davidson boosted their target price on Northwest Pipe from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, StockNews.com cut Northwest Pipe from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd.

Northwest Pipe Price Performance

Shares of NASDAQ NWPX opened at $36.21 on Tuesday. The company’s fifty day moving average is $33.03 and its two-hundred day moving average is $30.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.40 and a current ratio of 3.56. The firm has a market capitalization of $359.20 million, a P/E ratio of 15.21, a PEG ratio of 2.83 and a beta of 0.97. Northwest Pipe has a one year low of $25.58 and a one year high of $36.43.

Institutional Investors Weigh In On Northwest Pipe

Several hedge funds have recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Northwest Pipe by 35.2% during the 3rd quarter. Barclays PLC now owns 2,657 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 692 shares during the period. Byrne Asset Management LLC grew its stake in shares of Northwest Pipe by 17.3% during the 4th quarter. Byrne Asset Management LLC now owns 2,850 shares of the industrial products company’s stock valued at $88,000 after buying an additional 420 shares during the period. Global Retirement Partners LLC increased its holdings in shares of Northwest Pipe by 48.9% during the 4th quarter. Global Retirement Partners LLC now owns 3,110 shares of the industrial products company’s stock worth $91,000 after buying an additional 1,022 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Northwest Pipe by 20.4% in the 4th quarter. SG Americas Securities LLC now owns 5,378 shares of the industrial products company’s stock worth $163,000 after buying an additional 912 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its position in shares of Northwest Pipe by 6.8% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 7,188 shares of the industrial products company’s stock worth $217,000 after buying an additional 457 shares during the period. 80.63% of the stock is owned by institutional investors and hedge funds.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.