Babcock (NYSE:BW) – Research analysts at KeyCorp dropped their Q3 2017 earnings per share (EPS) estimates for Babcock in a report issued on Sunday. KeyCorp analyst T. Afzal now anticipates that the technology company will post earnings per share of ($0.24) for the quarter, down from their previous forecast of ($0.01). KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Babcock’s FY2017 earnings at ($2.63) EPS.

Babcock (NYSE:BW) last released its quarterly earnings data on Wednesday, August 9th. The technology company reported ($2.63) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($2.68). The business had revenue of $349.80 million for the quarter, compared to analyst estimates of $434.34 million. Babcock had a negative return on equity of 35.95% and a negative net margin of 14.41%. Babcock’s revenue was down 8.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.20) EPS.

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Several other brokerages have also weighed in on BW. Zacks Investment Research upgraded shares of Babcock from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Monday, July 3rd. BidaskClub downgraded shares of Babcock from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. UBS AG downgraded shares of Babcock from a “buy” rating to a “neutral” rating and cut their price target for the company from $13.00 to $3.00 in a report on Monday, August 14th. Finally, Credit Suisse Group cut their price target on shares of Babcock from $10.00 to $3.70 and set an “underperform” rating for the company in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Babcock has a consensus rating of “Hold” and an average target price of $7.18.

Shares of Babcock (NYSE BW) opened at 3.57 on Wednesday. Babcock has a 1-year low of $2.51 and a 1-year high of $17.72. The firm’s market cap is $174.50 million. The company’s 50-day moving average is $3.37 and its 200 day moving average is $3.37.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Babcock by 8.0% in the second quarter. Vanguard Group Inc. now owns 4,232,623 shares of the technology company’s stock worth $49,776,000 after acquiring an additional 312,969 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Babcock by 1.0% in the first quarter. Wellington Management Group LLP now owns 2,744,506 shares of the technology company’s stock worth $25,634,000 after acquiring an additional 26,640 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Babcock by 10.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,244,099 shares of the technology company’s stock worth $26,391,000 after acquiring an additional 209,171 shares during the last quarter. New York State Common Retirement Fund raised its stake in shares of Babcock by 21.9% in the second quarter. New York State Common Retirement Fund now owns 1,531,840 shares of the technology company’s stock worth $18,014,000 after acquiring an additional 275,399 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Babcock by 0.7% in the second quarter. Teachers Advisors LLC now owns 1,351,709 shares of the technology company’s stock worth $15,896,000 after acquiring an additional 9,872 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

In other news, major shareholder Vintage Capital Management Llc purchased 1,686,945 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was purchased at an average cost of $3.10 per share, with a total value of $5,229,529.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc is a technology-based provider of fossil and renewable power generation and environmental equipment that includes a suite of boiler products and environmental systems, and services for power and industrial uses. The Company operates in three segments: Power, Renewable and Industrial.

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