Bowman Consulting Group (NASDAQ:BWMN) Issues Quarterly Earnings Results, Misses Expectations By $0.62 EPS

Bowman Consulting Group (NASDAQ:BWMN) announced its quarterly earnings results on Friday. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.62), FiscalAI reports. The business had revenue of $148.70 million during the quarter, compared to analyst estimates of $137.54 million. Bowman Consulting Group had a net margin of 1.30% and a return on equity of 2.67%.

Bowman Consulting Group Stock Performance

Shares of BWMN traded down $0.01 during mid-day trading on Friday, reaching $42.99. 1,683,467 shares of the company’s stock were exchanged, compared to its average volume of 379,314. The business’s fifty day simple moving average is $42.68 and its 200-day simple moving average is $34.51. Bowman Consulting Group has a 52-week low of $25.07 and a 52-week high of $43.22. The stock has a market capitalization of $713.37 million, a PE ratio of 107.49 and a beta of 1.47. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.90 and a quick ratio of 0.90.

Wall Street Analyst Weigh In

BWMN has been the topic of a number of research analyst reports. Robert W. Baird set a $43.00 price objective on shares of Bowman Consulting Group in a report on Monday, August 10th. Craig Hallum cut shares of Bowman Consulting Group from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Tuesday, August 11th. JPMorgan Chase & Co. cut shares of Bowman Consulting Group from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $40.00 to $43.00 in a research report on Friday, August 21st. Capital One Financial set a $43.00 price objective on shares of Bowman Consulting Group in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised Bowman Consulting Group from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Seven analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $43.00.

Insiders Place Their Bets

In other Bowman Consulting Group news, Director Patricia Mulroy sold 883 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $42.37, for a total transaction of $37,412.71. Following the transaction, the director directly owned 26,330 shares of the company’s stock, valued at approximately $1,115,602.10. This trade represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary Bowman sold 22,500 shares of the stock in a transaction dated Wednesday, September 23rd. The stock was sold at an average price of $42.55, for a total transaction of $957,375.00. Following the sale, the chief executive officer owned 1,272,838 shares of the company’s stock, valued at $54,159,256.90. This trade represents a 1.74% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 60,883 shares of company stock valued at $2,590,413. 17.50% of the stock is owned by company insiders.

About Bowman Consulting Group

Bowman Consulting Group Ltd. (NASDAQ: BWMN) is an engineering services firm that provides infrastructure, planning, surveying, and consulting solutions to public- and private-sector clients. The company supports projects throughout their development and construction life cycles, serving markets such as transportation, power and utilities, commercial and residential real estate, and public infrastructure.

Its services include civil engineering, land surveying, geomatics, environmental consulting, landscape architecture, construction management, right-of-way services, and utility engineering.