Babcock & Wilcox's stock soars after confirming indication of buyout interest from its largest shareholder [MarketWatch]
Babcock & Wilcox Enterprises, Inc. (BW)
Last babcock & wilcox enterprises, inc. earnings: 3/1 04:42 pm
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Source: MarketWatch
Babcock & Wilcox's stock soars after confirming indication of buyout interest from its largest shareholder Shares of Babcock & Wilcox Enterprises Inc. BW, +10.89% soared 16% in premarket trade Thursday, after the energy and environmental technologies company confirmed that it received a "non-binding indication of interest" from its largest shareholder, Steel Partners. The company said a potential buyout would value B&W shares between $3.00 to $3.50 each, which is 17% to 36% above Wednesday's closing price of $2.57, and would give B&W a market capitalization of between $505.9 million to $590.2 million. Steel Partners owns 17.8% of B&W's shares outstanding. B&W's stock has tumbled 54.8% year to date through Wednesday, while the S&P 500 SPX, -0.26% has gained 2.2%.
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News
- Babcock & Wilcox Awarded Contract to Upgrade Renewable Energy Boilers in Southeast Asia [Yahoo! Finance]Yahoo! Finance
- Babcock & Wilcox Awarded Contract to Upgrade Renewable Energy Boilers in Southeast AsiaBusiness Wire
- Babcock & Wilcox Enterprises, Inc. (NYSE: BW) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Babcock & Wilcox Enterprises, Inc. (NYSE: BW) had its price target lowered by analysts at Lake Street Capital from $11.00 to $8.00. They now have a "buy" rating on the stock.MarketBeat
- Babcock & Wilcox Announces Increased Full-Year Adjusted EBITDA Target of $105 Million to $115 Million, New Contracts and Awards of Approximately $500 Million Year-to-Date [Yahoo! Finance]Yahoo! Finance
BW
Earnings
- 11/9/23 - Miss
BW
Sec Filings
- 4/17/24 - Form SC
- 4/10/24 - Form 8-K
- 4/10/24 - Form 424B5
- BW's page on the SEC website