Broadwind Energy (NASDAQ:BWEN) Announces Earnings Results

Broadwind Energy (NASDAQ:BWEN) released its earnings results on Friday. The industrial products company reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06), Morningstar.com reports. Broadwind Energy had a negative return on equity of 18.72% and a negative net margin of 14.85%. The business had revenue of $41.17 million during the quarter, compared to the consensus estimate of $41.50 million. Broadwind Energy updated its Q3 2019 guidance to EPS.

Shares of Broadwind Energy stock traded down $0.04 during trading hours on Friday, reaching $1.83. The company had a trading volume of 119,634 shares, compared to its average volume of 41,494. Broadwind Energy has a one year low of $1.15 and a one year high of $2.59. The business has a fifty day moving average price of $2.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.36 and a current ratio of 0.84. The company has a market cap of $31.49 million, a price-to-earnings ratio of -2.15 and a beta of 1.88.

A number of analysts have issued reports on BWEN shares. Roth Capital raised their target price on Broadwind Energy from $2.50 to $2.75 and gave the stock a “buy” rating in a research report on Monday, April 29th. ValuEngine raised Broadwind Energy from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research lowered Broadwind Energy from a “buy” rating to a “hold” rating in a report on Monday, July 29th.

An institutional investor recently raised its position in Broadwind Energy stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Broadwind Energy Inc. (NASDAQ:BWEN) by 69.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,270 shares of the industrial products company’s stock after acquiring an additional 7,900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.12% of Broadwind Energy worth $43,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 36.64% of the company’s stock.

Broadwind Energy Company Profile

Broadwind Energy, Inc provides products to the energy, mining, and infrastructure sector customers primarily in the United States. It operates through three segments: Towers and Heavy Fabrications, Gearing, and Process Systems. The Towers and Heavy Fabrications segment manufactures towers that are designed for various megawatt wind turbines primarily serving wind turbine manufacturers; and fabrications of heavy weldments for mining and other industrial customers.

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Earnings History for Broadwind Energy (NASDAQ:BWEN)

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