Equities Analysts Set Expectations for Northwest Pipe’s Q2 2024 Earnings (NASDAQ:NWPX)

Northwest Pipe (NASDAQ:NWPX) – Investment analysts at Northland Capmk lifted their Q2 2024 earnings estimates for Northwest Pipe in a report released on Monday, May 6th. Northland Capmk analyst E. Jackson now expects that the industrial products company will post earnings per share of $0.78 for the quarter, up from their previous forecast of $0.71. The consensus estimate for Northwest Pipe’s current full-year earnings is $2.31 per share. Northland Capmk also issued estimates for Northwest Pipe’s Q3 2024 earnings at $0.79 EPS, FY2024 earnings at $2.65 EPS, FY2026 earnings at $2.65 EPS, FY2027 earnings at $2.55 EPS and FY2028 earnings at $2.48 EPS.

Several other equities analysts also recently commented on the stock. DA Davidson increased their target price on shares of Northwest Pipe from $37.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. TheStreet upgraded Northwest Pipe from a “c+” rating to a “b-” rating in a report on Thursday, February 1st. Finally, StockNews.com cut shares of Northwest Pipe from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd.

Northwest Pipe Price Performance

NWPX opened at $35.61 on Tuesday. The company has a current ratio of 3.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.26. Northwest Pipe has a 1 year low of $25.58 and a 1 year high of $36.43. The stock has a fifty day moving average price of $33.16 and a 200 day moving average price of $30.14. The stock has a market cap of $353.07 million, a price-to-earnings ratio of 14.96, a PEG ratio of 2.83 and a beta of 0.97.

Northwest Pipe (NASDAQ:NWPX) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.34 by $0.18. The business had revenue of $113.22 million during the quarter, compared to analysts’ expectations of $103.20 million. Northwest Pipe had a net margin of 5.22% and a return on equity of 7.11%. During the same period last year, the company posted $0.23 earnings per share.

Institutional Investors Weigh In On Northwest Pipe

Hedge funds have recently added to or reduced their stakes in the stock. Gendell Jeffrey L boosted its stake in shares of Northwest Pipe by 67.5% in the 3rd quarter. Gendell Jeffrey L now owns 131,767 shares of the industrial products company’s stock valued at $3,975,000 after purchasing an additional 53,118 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Northwest Pipe by 9.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 414,624 shares of the industrial products company’s stock worth $12,509,000 after acquiring an additional 35,997 shares during the period. Manchester Capital Management LLC bought a new stake in shares of Northwest Pipe during the 3rd quarter valued at $691,000. Foundry Partners LLC lifted its stake in shares of Northwest Pipe by 9.1% in the 3rd quarter. Foundry Partners LLC now owns 178,470 shares of the industrial products company’s stock valued at $5,384,000 after purchasing an additional 14,815 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Northwest Pipe by 48.9% in the 4th quarter. Global Retirement Partners LLC now owns 3,110 shares of the industrial products company’s stock worth $91,000 after purchasing an additional 1,022 shares during the last quarter. Institutional investors own 80.63% of the company’s stock.

About Northwest Pipe

Northwest Pipe Company, together with its subsidiaries, engages in the manufacture and supply of water-related infrastructure products in North America. It operates in two segments, Engineered Steel Pressure Pipe (SPP) and Precast Infrastructure and Engineered Systems (Precast). The SPP segment offers large-diameter and high-pressure steel pipeline systems for use in water infrastructure applications, which are primarily related to drinking water systems.