Zacks: Brokerages Set $5.50 Price Target for Broadwind Energy, Inc. (BWEN)
Broadwind Energy, Inc. (NASDAQ:BWEN) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price objective of $5.50 for the company and are predicting that the company will post ($0.30) earnings per share for the current quarter, according to Zacks. Zacks has also given Broadwind Energy an industry rank of 52 out of 265 based on the ratings given to its competitors.
A number of research firms recently commented on BWEN. Zacks Investment Research cut shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Roth Capital set a $5.00 target price on shares of Broadwind Energy and gave the stock a “buy” rating in a research note on Tuesday, October 31st. ValuEngine lowered shares of Broadwind Energy from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $8.00 target price (down from $9.00) on shares of Broadwind Energy in a research note on Wednesday, August 2nd.
Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Broadwind Energy by 186.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,038 shares of the industrial products company’s stock worth $106,000 after buying an additional 13,691 shares during the last quarter. KCG Holdings Inc. acquired a new position in shares of Broadwind Energy during the 1st quarter worth about $154,000. Macquarie Group Ltd. acquired a new position in shares of Broadwind Energy during the 3rd quarter worth about $166,000. Russell Investments Group Ltd. acquired a new position in shares of Broadwind Energy during the 2nd quarter worth about $226,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Broadwind Energy by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 59,647 shares of the industrial products company’s stock worth $301,000 after buying an additional 1,004 shares during the last quarter. Institutional investors own 54.38% of the company’s stock.
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Shares of Broadwind Energy (BWEN) traded down $0.01 during trading on Monday, hitting $2.41. 50,100 shares of the company’s stock traded hands, compared to its average volume of 168,104. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.99 and a quick ratio of 0.43. Broadwind Energy has a 52 week low of $2.39 and a 52 week high of $9.80.
Broadwind Energy (NASDAQ:BWEN) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.16) by $0.02. Broadwind Energy had a net margin of 2.05% and a negative return on equity of 1.31%. The business had revenue of $29.60 million during the quarter, compared to analysts’ expectations of $29.84 million. During the same quarter in the prior year, the company earned $0.08 EPS. The firm’s quarterly revenue was down 30.4% on a year-over-year basis. sell-side analysts forecast that Broadwind Energy will post -0.07 EPS for the current year.
About Broadwind Energy
Broadwind Energy, Inc provides technologically advanced products and services to energy, mining and infrastructure sector customers, primarily in the United States. The Company is engaged primarily in United States wind energy industry. The Company operates through two segments: Towers and Weldments, and Gearing.
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