Bristow Group Inc (BRS) Stock Rating Lowered by Zacks Investment Research
Bristow Group Inc (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “Bristow Group Inc. is a leading provider of helicopter services to the worldwide energy industry. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. “
BRS has been the subject of a number of other reports. BidaskClub cut Bristow Group from a “hold” rating to a “sell” rating in a report on Friday, July 28th. ValuEngine upgraded Bristow Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 20th. Barclays PLC set a $13.00 price objective on Bristow Group and gave the company a “hold” rating in a research report on Friday, May 26th. Credit Suisse Group reiterated a “hold” rating and issued a $10.00 price objective on shares of Bristow Group in a research report on Sunday, May 28th. Finally, Cowen and Company lowered Bristow Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $14.00 to $7.00 in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. Bristow Group has an average rating of “Hold” and a consensus price target of $12.60.
Shares of Bristow Group (NYSE BRS) traded down 0.64% on Friday, reaching $9.29. The company’s stock had a trading volume of 1,081,714 shares. The stock’s market capitalization is $328.19 million. The stock has a 50-day moving average of $8.08 and a 200 day moving average of $10.43. Bristow Group has a 52 week low of $6.21 and a 52 week high of $21.88.
Bristow Group (NYSE:BRS) last released its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.11) by $0.28. Bristow Group had a negative return on equity of 6.83% and a negative net margin of 13.32%. The firm had revenue of $352.10 million during the quarter, compared to analysts’ expectations of $299.93 million. During the same period last year, the firm posted ($0.34) EPS. The business’s revenue was down 4.7% on a year-over-year basis. On average, analysts expect that Bristow Group will post ($3.42) EPS for the current year.
In related news, insider Jonathan Baliff purchased 6,500 shares of Bristow Group stock in a transaction dated Friday, August 18th. The shares were acquired at an average cost of $7.70 per share, for a total transaction of $50,050.00. Following the transaction, the insider now directly owns 67,344 shares of the company’s stock, valued at $518,548.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the company. Ariel Investments LLC boosted its position in shares of Bristow Group by 3.8% in the 1st quarter. Ariel Investments LLC now owns 10,160,521 shares of the oil and gas company’s stock worth $154,542,000 after purchasing an additional 371,009 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Bristow Group by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,959,621 shares of the oil and gas company’s stock worth $45,015,000 after purchasing an additional 21,261 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Bristow Group by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 2,427,238 shares of the oil and gas company’s stock worth $36,918,000 after purchasing an additional 62,466 shares during the last quarter. Boston Partners boosted its position in shares of Bristow Group by 112.2% in the 2nd quarter. Boston Partners now owns 1,818,857 shares of the oil and gas company’s stock worth $13,914,000 after purchasing an additional 961,730 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Bristow Group by 29.6% in the 1st quarter. State Street Corp now owns 1,419,712 shares of the oil and gas company’s stock worth $21,594,000 after purchasing an additional 324,214 shares during the last quarter.
Bristow Group Company Profile
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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