Bowman Consulting Group (NASDAQ:BWMN) Announces Earnings Results, Misses Estimates By $0.07 EPS
by Teresa Graham · The Cerbat GemBowman Consulting Group (NASDAQ:BWMN – Get Free Report) posted its quarterly earnings results on Tuesday. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.07), FiscalAI reports. The company had revenue of $126.48 million during the quarter, compared to analyst estimates of $114.49 million. Bowman Consulting Group had a net margin of 2.02% and a return on equity of 3.96%.
Bowman Consulting Group Trading Down 3.2%
BWMN traded down $1.14 during trading on Thursday, hitting $34.67. The company’s stock had a trading volume of 82,182 shares, compared to its average volume of 141,148. Bowman Consulting Group has a twelve month low of $23.84 and a twelve month high of $45.83. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.22. The stock’s fifty day moving average price is $30.43 and its 200-day moving average price is $33.99. The firm has a market capitalization of $593.64 million, a P/E ratio of 57.80, a PEG ratio of 2.00 and a beta of 1.36.
Insider Transactions at Bowman Consulting Group
In other Bowman Consulting Group news, CEO Gary Bowman sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $30.71, for a total value of $383,875.00. Following the transaction, the chief executive officer directly owned 906,575 shares of the company’s stock, valued at approximately $27,840,918.25. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 17.42% of the company’s stock.
Hedge Funds Weigh In On Bowman Consulting Group
Several institutional investors have recently added to or reduced their stakes in BWMN. Alliancebernstein L.P. lifted its stake in Bowman Consulting Group by 3,560.2% in the third quarter. Alliancebernstein L.P. now owns 524,867 shares of the company’s stock valued at $22,233,000 after buying an additional 510,527 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Bowman Consulting Group in the third quarter valued at approximately $6,590,000. JPMorgan Chase & Co. lifted its stake in Bowman Consulting Group by 998.9% in the third quarter. JPMorgan Chase & Co. now owns 100,309 shares of the company’s stock valued at $4,249,000 after buying an additional 91,181 shares during the period. Polar Asset Management Partners Inc. raised its position in shares of Bowman Consulting Group by 30.2% during the fourth quarter. Polar Asset Management Partners Inc. now owns 285,024 shares of the company’s stock worth $9,411,000 after purchasing an additional 66,029 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Bowman Consulting Group by 315.3% during the third quarter. Ameriprise Financial Inc. now owns 82,410 shares of the company’s stock worth $3,491,000 after purchasing an additional 62,565 shares during the period. 63.20% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
BWMN has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Bowman Consulting Group from $43.00 to $37.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bowman Consulting Group in a report on Friday, March 27th. Zacks Research cut Bowman Consulting Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Wall Street Zen cut Bowman Consulting Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Finally, JPMorgan Chase & Co. started coverage on Bowman Consulting Group in a report on Friday, January 9th. They set a “neutral” rating and a $40.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Bowman Consulting Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.
Check Out Our Latest Stock Report on Bowman Consulting Group
About Bowman Consulting Group
Bowman Consulting Group Ltd. (NASDAQ: BWMN) is a multidisciplinary professional services firm that provides engineering, environmental, planning and surveying services to public and private sector clients. Its service offerings encompass civil, geotechnical and environmental engineering; land development planning and permitting; construction management; survey and geospatial services; and ecological and water resources consulting. The firm supports infrastructure, real estate, energy, utilities and telecommunications projects, delivering site characterization, design, permitting and construction-phase oversight.
Since its founding in 1980, Bowman Consulting Group has grown organically and through strategic acquisitions to expand its technical capabilities and geographic footprint.