Broadwind (NASDAQ:BWEN) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Broadwind (NASDAQ:BWEN) posted its quarterly earnings data on Tuesday. The industrial products company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01, Yahoo Finance reports. The firm had revenue of $36.45 million during the quarter, compared to analyst estimates of $37.13 million. Broadwind had a return on equity of 15.41% and a net margin of 4.36%. During the same period in the prior year, the business posted $0.07 EPS. Broadwind updated its Q3 2024 guidance to EPS.

Broadwind Price Performance

Shares of BWEN traded up $0.07 during midday trading on Thursday, hitting $2.21. 276,732 shares of the company traded hands, compared to its average volume of 155,805. The firm has a 50 day moving average of $3.32 and a 200-day moving average of $2.85. Broadwind has a 52 week low of $2.01 and a 52 week high of $4.81. The stock has a market cap of $48.03 million, a price-to-earnings ratio of 5.92 and a beta of 1.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.53 and a current ratio of 1.47.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BWEN shares. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Broadwind in a research note on Wednesday. Craig Hallum dropped their target price on shares of Broadwind from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. StockNews.com downgraded shares of Broadwind from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Finally, Roth Mkm dropped their target price on shares of Broadwind from $4.00 to $3.50 and set a “buy” rating for the company in a report on Wednesday.

Insider Buying and Selling at Broadwind

In other Broadwind news, insider Daniel E. Schueller sold 5,800 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $4.53, for a total transaction of $26,274.00. Following the completion of the transaction, the insider now owns 146,694 shares of the company’s stock, valued at approximately $664,523.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.70% of the company’s stock.

Broadwind Company Profile

Broadwind, Inc manufactures and sells structures, equipment, and components for clean tech and other specialized applications primarily in the United States. It operates through three segments: Heavy Fabrications, Gearing, and Industrial Solutions. The Heavy Fabrications segment provides fabrications to various industrial markets.