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

Broadwind (NASDAQ:BWEN) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.02 EPS for the quarter, beating 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 the consensus estimate of $37.13 million. Broadwind had a net margin of 4.36% and a return on equity of 15.41%. During the same period in the prior year, the firm posted $0.07 earnings per share. Broadwind updated its Q3 2024 guidance to EPS.

Broadwind Stock Down 7.0 %

BWEN stock opened at $2.14 on Thursday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.53 and a current ratio of 1.47. The firm has a market cap of $46.51 million, a PE ratio of 5.49 and a beta of 1.44. Broadwind has a one year low of $2.01 and a one year high of $4.81. The firm’s fifty day moving average is $3.32 and its 200 day moving average is $2.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BWEN shares. StockNews.com cut shares of Broadwind from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. HC Wainwright restated a “buy” rating and issued a $8.00 target price on shares of Broadwind in a report on Wednesday. Roth Mkm cut their price target on shares of Broadwind from $4.00 to $3.50 and set a “buy” rating on the stock in a report on Wednesday. Finally, Craig Hallum dropped their target price on shares of Broadwind from $5.00 to $4.00 and set a “buy” rating on the stock in a research note 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 on Tuesday, May 28th. The shares were sold at an average price of $4.53, for a total transaction of $26,274.00. Following the transaction, the insider now directly owns 146,694 shares of the company’s stock, valued at $664,523.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.70% of the company’s stock.

About Broadwind

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.