Babcock & Wilcox Hits 52-Week High - Analyst Blog
29 Mai 2013 - 10:30PM
Zacks
The shares of engineering firm
The Babcock & Wilcox Company (BWC) soared to a
52-week high of $30.23 on Tuesday, May 28, 2013, buoyed by a slew
of positive developments. The closing price of the company as of
the said date was $29.95, representing an impressive 1-year return
of 20.67%. Additionally, Babcock & Wilcox – with a market cap
of $3.36 billion – boasts of a long-term expected earnings growth
rate of 13.50%.
Earlier this month, Babcock & Wilcox reported first quarter
2013 adjusted earnings per share of 46 cents, below the year-ago
adjusted earnings of 50 cents. But its revenue improved 5.2% from
the year-earlier level to 805.4 million. This was aided by strong
performance by the Power Generation segment.
Last week, Babcock & Wilcox won a U.S. Naval Reactors Program
contract to render procurement and assembling services. The company
will execute the deal, worth $366 million, through its affiliate
Babcock & Wilcox Nuclear Operations Group Inc.
Earlier in Feb, Babcock & Wilcox received two contracts worth
$36 million, also from U.S. Naval Reactors Program to render
procurement and assembling services.
With the success of the past contracts, Babcock & Wilcox is on
an expansion path. It looks forward to more such opportunistic
programs in 2013 to gain a significant market share. We believe
such accomplishments will garner profits for Babcock & Wilcox
in the upcoming quarters.
Headquartered in Charlotte, N.C., Babcock & Wilcox is engaged
in providing clean energy technology and services for the nuclear,
fossil and renewable power markets worldwide. The company – which
was spun off as an independent and publicly traded entity from
energy-focused engineering and construction firm McDermott
International (MDR) in Aug 2010 – operates in four
business units: Power Generation, Nuclear Operations, Technical
Services and Nuclear Energy.
Babcock & Wilcox currently carries a Zacks Rank #3 (Hold),
implying that it is expected to perform in line with the broader
U.S. equity market over the next one to three months.
However, certain other engineering firms in the energy sector like
Tri-Tech Holding Inc. (TRIT) and Graco
Inc. (GGG) are expected to outperform the equity market in
the next one to three months. Both the stocks currently hold a
Zacks Rank #1 (Strong Buy).
BABCOCK&WILCOX (BWC): Free Stock Analysis Report
GRACO INC (GGG): Free Stock Analysis Report
MCDERMOTT INTL (MDR): Free Stock Analysis Report
TRI-TECH HOLDNG (TRIT): Free Stock Analysis Report
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