Barclays Upgrades Bristow Group to Overweight (BRS)
Bristow Group (NYSE:BRS) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued on Wednesday, American Banking and Market News reports. The firm currently has a $102.00 target price on the stock. Barclays’ target price would suggest a potential upside of 36.15% from the stock’s previous close.
Bristow Group (NYSE:BRS) traded up 0.39% during mid-day trading on Wednesday, hitting $74.96. 363,919 shares of the company’s stock traded hands. Bristow Group has a 52-week low of $55.83 and a 52-week high of $85.70. The stock’s 50-day moving average is $72.38 and its 200-day moving average is $74.33. The company has a market cap of $2.719 billion and a P/E ratio of 13.81.
Bristow Group (NYSE:BRS) last announced its earnings results on Friday, February 7th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by $0.31. The company had revenue of $373.60 million for the quarter, compared to the consensus estimate of $432.36 million. During the same quarter in the previous year, the company posted $1.14 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Bristow Group will post $4.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, March 14th. Stockholders of record on Friday, February 28th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Wednesday, February 26th.
A number of other firms have also recently commented on BRS. Analysts at Cowen and Company cut their price target on shares of Bristow Group from $94.00 to $84.00 in a research note on Wednesday, February 12th. They now have an “outperform” rating on the stock. Separately, analysts at William Blair upgraded shares of Bristow Group from a “market perform” rating to an “outperform” rating in a research note on Monday, February 10th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Bristow Group currently has a consensus rating of “Buy” and an average target price of $91.20.
Bristow Group Inc (NYSE:BRS) is a provider of helicopter services to the worldwide offshore energy industry based on the number of aircraft operated and one of two helicopter service providers to the offshore energy industry with global operations.
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