Babcook & Wilcox Enterprises shares are trading lower after the company reported a year-over-year decrease in Q3 EPS results and worse-than-expected revenue results. Also, Craig-Hallum downgraded the stock from Buy to Hold and announced a $2 price target.
Portfolio Pulse from Benzinga Newsdesk
Babcock & Wilcox Enterprises (BW) shares dropped following a report of lower year-over-year Q3 EPS and revenue that missed expectations. Additionally, Craig-Hallum downgraded BW from Buy to Hold and set a price target of $2.
November 10, 2023 | 4:22 pm
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Babcock & Wilcox Enterprises reported weaker Q3 earnings and revenue, leading to a stock downgrade by Craig-Hallum with a new price target of $2.
The reported decrease in Q3 EPS and revenue shortfall are negative indicators of the company's financial performance, which typically lead to a decline in stock price. The downgrade by Craig-Hallum further dampens investor sentiment, suggesting a bearish outlook for the stock in the short term.
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