BWX Technologies (NYSE:BWXT) Announces Earnings Results, Beats Expectations By $0.06 EPS

BWX Technologies (NYSE:BWXT) released its quarterly earnings results on Monday. The technology company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06, Briefing.com reports. BWX Technologies had a return on equity of 31.57% and a net margin of 10.00%. The firm had revenue of $681.50 million during the quarter, compared to analysts’ expectations of $639.31 million. During the same period last year, the firm posted $0.65 EPS. The business’s revenue was up 11.3% on a year-over-year basis. BWX Technologies updated its FY24 guidance to $3.10-$3.20 EPS and its FY 2024 guidance to 3.100-3.200 EPS.

BWX Technologies Trading Up 3.4 %

Shares of NYSE:BWXT traded up $3.19 during midday trading on Wednesday, hitting $96.43. The company had a trading volume of 103,395 shares, compared to its average volume of 584,734. BWX Technologies has a 12 month low of $70.21 and a 12 month high of $107.18. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.29. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 33.66, a PEG ratio of 3.65 and a beta of 0.68. The firm has a fifty day simple moving average of $94.97 and a 200 day simple moving average of $93.74.

BWX Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Friday, August 16th will be given a $0.24 dividend. The ex-dividend date is Friday, August 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.00%. BWX Technologies’s dividend payout ratio is currently 34.66%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. CLSA began coverage on BWX Technologies in a report on Monday, June 3rd. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft lifted their target price on BWX Technologies from $112.00 to $113.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research began coverage on BWX Technologies in a research note on Wednesday, June 26th. They issued a “buy” rating and a $110.00 target price for the company. Janney Montgomery Scott began coverage on BWX Technologies in a research note on Thursday, June 27th. They issued a “buy” rating and a $113.00 target price for the company. Finally, StockNews.com raised BWX Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $100.38.

About BWX Technologies

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; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.