The Babcock & Wilcox Enterprises Inc. (BW) Downgraded by Credit Suisse Group AG to Underperform

The Babcock & Wilcox Enterprises Inc. (BW) Downgraded by Credit Suisse Group AG to Underperform

Credit Suisse Group AG downgraded shares of Babcock & Wilcox Enterprises Inc. (NYSE:BW) from a neutral rating to an underperform rating in a research note published on Thursday morning. The firm currently has $16.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Babcock & Wilcox Enterprises from a hold rating to a buy rating and set a $19.00 target price on the stock in a report on Monday, September 12th. KeyCorp restated an outperform rating and issued a $22.00 target price on shares of Babcock & Wilcox Enterprises in a report on Wednesday, August 24th.

Babcock & Wilcox Enterprises (NYSE:BW) traded up 0.25% on Thursday, reaching $15.74. 87,824 shares of the company’s stock traded hands. The company’s market cap is $786.72 million. The firm’s 50 day moving average price is $16.47 and its 200 day moving average price is $18.59. Babcock & Wilcox Enterprises has a 12 month low of $14.27 and a 12 month high of $23.99.

Babcock & Wilcox Enterprises (NYSE:BW) last issued its earnings results on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.05. Babcock & Wilcox Enterprises had a positive return on equity of 5.87% and a negative net margin of 3.04%. The firm earned $383.20 million during the quarter, compared to the consensus estimate of $432.54 million. During the same quarter in the prior year, the business posted $0.27 EPS. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities analysts expect that Babcock & Wilcox Enterprises will post $0.73 EPS for the current fiscal year.

In other Babcock & Wilcox Enterprises news, Director Thomas A. Christopher bought 2,466 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were purchased at an average price of $16.20 per share, for a total transaction of $39,949.20. Following the acquisition, the director now owns 4,426 shares in the company, valued at approximately $71,701.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman E James Ferland, Jr. bought 40,000 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were acquired at an average price of $16.22 per share, for a total transaction of $648,800.00. Following the acquisition, the chairman now owns 173,664 shares in the company, valued at approximately $2,816,830.08. The disclosure for this purchase can be found here. 1.50% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Babcock & Wilcox Enterprises by 0.3% in the second quarter. Vanguard Group Inc. now owns 3,908,272 shares of the company’s stock worth $57,413,000 after buying an additional 12,481 shares during the period. Wellington Management Group LLP boosted its stake in shares of Babcock & Wilcox Enterprises by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,748,625 shares of the company’s stock worth $58,820,000 after buying an additional 148,661 shares during the period. Silvercrest Asset Management Group LLC boosted its stake in shares of Babcock & Wilcox Enterprises by 36.6% in the second quarter. Silvercrest Asset Management Group LLC now owns 2,321,066 shares of the company’s stock worth $34,096,000 after buying an additional 622,142 shares during the period. First Pacific Advisors LLC boosted its stake in shares of Babcock & Wilcox Enterprises by 19.6% in the second quarter. First Pacific Advisors LLC now owns 2,105,860 shares of the company’s stock worth $30,935,000 after buying an additional 345,120 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Babcock & Wilcox Enterprises by 4.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,904,518 shares of the company’s stock worth $27,977,000 after buying an additional 82,945 shares during the period. Hedge funds and other institutional investors own 98.19% of the company’s stock.

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