BWX Technologies (NYSE:BWXT) Announces Earnings Results

BWX Technologies (NYSE:BWXTGet Free Report) announced its earnings results on Tuesday. The technology company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.07, Briefing.com reports. BWX Technologies had a return on equity of 33.35% and a net margin of 9.85%. The firm had revenue of $725.52 million for the quarter, compared to the consensus estimate of $659.42 million. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 16.2% on a year-over-year basis. BWX Technologies updated its FY24 guidance to $3.05-$3.20 EPS and its FY 2024 guidance to 3.050-3.200 EPS.

BWX Technologies Stock Down 0.8 %

BWXT stock opened at $100.00 on Thursday. The company has a market capitalization of $9.15 billion, a P/E ratio of 37.47, a price-to-earnings-growth ratio of 6.24 and a beta of 0.69. BWX Technologies has a 12 month low of $60.17 and a 12 month high of $101.11. The firm’s fifty day simple moving average is $81.45 and its 200-day simple moving average is $77.69. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.50 and a quick ratio of 2.50.

BWX Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Monday, March 11th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, March 8th. This is a positive change from BWX Technologies’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a yield of 0.96%. BWX Technologies’s dividend payout ratio (DPR) is currently 34.20%.

Institutional Investors Weigh In On BWX Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BWXT. State Street Corp boosted its stake in shares of BWX Technologies by 40.2% in the second quarter. State Street Corp now owns 3,507,248 shares of the technology company’s stock worth $251,014,000 after buying an additional 1,006,326 shares during the last quarter. Bank of America Corp DE boosted its position in BWX Technologies by 154.6% in the 1st quarter. Bank of America Corp DE now owns 980,775 shares of the technology company’s stock worth $61,828,000 after purchasing an additional 595,604 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of BWX Technologies by 8,380.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 501,296 shares of the technology company’s stock worth $31,602,000 after purchasing an additional 495,385 shares during the period. Invesco Ltd. grew its stake in shares of BWX Technologies by 151.0% during the 1st quarter. Invesco Ltd. now owns 737,554 shares of the technology company’s stock worth $39,725,000 after purchasing an additional 443,758 shares during the period. Finally, FIL Ltd increased its holdings in shares of BWX Technologies by 41.5% during the 4th quarter. FIL Ltd now owns 1,063,613 shares of the technology company’s stock valued at $81,611,000 after purchasing an additional 312,105 shares in the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BWXT shares. Alembic Global Advisors lowered BWX Technologies from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $79.00 to $82.00 in a research note on Friday, November 3rd. StockNews.com downgraded shares of BWX Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Finally, Truist Financial raised their price target on shares of BWX Technologies from $90.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.43.

Check Out Our Latest Research Report on BWX Technologies

BWX Technologies Company Profile

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BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S.

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Earnings History for BWX Technologies (NYSE:BWXT)

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