BWX Technologies, Inc. Declares Quarterly Dividend of $0.24 (NYSE:BWXT)

BWX Technologies, Inc. (NYSE:BWXT) announced a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.24 per share by the technology company on Thursday, September 5th. This represents a $0.96 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Friday, August 16th.

BWX Technologies has raised its dividend by an average of 6.6% annually over the last three years. BWX Technologies has a dividend payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect BWX Technologies to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 28.2%.

BWX Technologies Stock Performance

Shares of NYSE BWXT traded up $0.86 during midday trading on Tuesday, reaching $93.24. 796,015 shares of the company traded hands, compared to its average volume of 587,943. The stock has a 50-day moving average price of $94.79 and a 200 day moving average price of $93.55. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 3.65 and a beta of 0.68. BWX Technologies has a 52 week low of $70.21 and a 52 week high of $107.18. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.24 and a quick ratio of 2.24.

BWX Technologies (NYSE:BWXT) last issued its quarterly earnings results on Monday, August 5th. The technology company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.06. The firm had revenue of $681.50 million for the quarter, compared to analysts’ expectations of $639.31 million. BWX Technologies had a return on equity of 31.57% and a net margin of 10.00%. BWX Technologies’s revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 EPS. Sell-side analysts anticipate that BWX Technologies will post 3.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. CLSA assumed coverage on BWX Technologies in a report on Monday, June 3rd. They set a “buy” rating for the company. Janney Montgomery Scott started coverage on BWX Technologies in a report on Thursday, June 27th. They issued a “buy” rating and a $113.00 target price for the company. StockNews.com lowered BWX Technologies from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft boosted their target price on BWX Technologies from $112.00 to $113.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, BTIG Research started coverage on BWX Technologies in a report on Wednesday, June 26th. They issued a “buy” rating and a $110.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $100.38.

About BWX Technologies

BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments, Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; fabrication activities; and supplies proprietary and sole-source valves, manifolds, and fittings to naval and commercial shipping customers.