BWX Technologies (NYSE:BWXT) Updates FY 2024 Earnings Guidance

BWX Technologies (NYSE:BWXT) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 3.050-3.200 for the period, compared to the consensus earnings per share estimate of 3.140. The company issued revenue guidance of $2.6 billion-, compared to the consensus revenue estimate of $2.6 billion. BWX Technologies also updated its FY24 guidance to $3.05-3.20 EPS.

BWX Technologies Stock Down 12.0 %

BWXT stock traded down $11.82 during mid-day trading on Tuesday, reaching $87.06. 1,982,882 shares of the company traded hands, compared to its average volume of 620,110. BWX Technologies has a fifty-two week low of $60.17 and a fifty-two week high of $107.18. The firm’s 50 day moving average price is $98.82 and its 200 day moving average price is $86.25. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 3.10 and a beta of 0.75. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.29.

BWX Technologies (NYSE:BWXT) last announced its earnings results on Monday, May 6th. The technology company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.09. BWX Technologies had a net margin of 9.85% and a return on equity of 32.38%. The company had revenue of $603.97 million during the quarter, compared to analyst estimates of $599.92 million. During the same period in the previous year, the business earned $0.70 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that BWX Technologies will post 3.14 EPS for the current fiscal year.

BWX Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, May 16th. BWX Technologies’s payout ratio is 35.69%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BWXT. Truist Financial reiterated a hold rating and set a $95.00 target price (down from $110.00) on shares of BWX Technologies in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft reduced their target price on BWX Technologies from $111.00 to $110.00 and set a buy rating for the company in a research note on Tuesday. StockNews.com downgraded BWX Technologies from a buy rating to a hold rating in a research report on Tuesday, March 12th. Finally, Bank of America lifted their target price on shares of BWX Technologies from $82.00 to $115.00 and gave the company a buy rating in a report on Thursday, March 28th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, BWX Technologies has a consensus rating of Moderate Buy and a consensus price target of $92.43.

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.