Zacks Investment Research Lowers Bristow Group Inc (BRS) to Sell
Bristow Group Inc (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
A number of other brokerages have also issued reports on BRS. Cowen and Company set a $7.00 price objective on shares of Bristow Group and gave the company a “hold” rating in a report on Friday, October 6th. ValuEngine upgraded shares of Bristow Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Finally, Barclays PLC restated a “hold” rating and set a $10.00 price target on shares of Bristow Group in a report on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.60.
Shares of Bristow Group (NYSE:BRS) traded up 4.31% during midday trading on Tuesday, hitting $9.44. 600,288 shares of the stock traded hands. Bristow Group has a 52 week low of $6.21 and a 52 week high of $21.88. The company’s market capitalization is $333.49 million. The firm’s 50-day moving average is $9.37 and its 200 day moving average is $9.20.
Bristow Group (NYSE:BRS) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.11) by $0.28. The business had revenue of $352.10 million during the quarter, compared to analyst estimates of $299.93 million. Bristow Group had a negative net margin of 13.32% and a negative return on equity of 6.83%. The firm’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.34) EPS. Equities analysts forecast that Bristow Group will post ($3.44) earnings per share for the current year.
In other news, insider Jonathan Baliff purchased 6,500 shares of the stock in a transaction on Friday, August 18th. The stock was purchased at an average price of $7.70 per share, for a total transaction of $50,050.00. Following the acquisition, the insider now owns 67,344 shares in the company, valued at $518,548.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.00% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Mason Street Advisors LLC raised its holdings in Bristow Group by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 7,468 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 489 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in shares of Bristow Group by 1.2% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,750 shares of the oil and gas company’s stock worth $109,000 after buying an additional 90 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Bristow Group by 54.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,724 shares of the oil and gas company’s stock worth $100,000 after buying an additional 3,072 shares during the period. Invictus RG acquired a new stake in shares of Bristow Group during the 1st quarter worth approximately $136,000. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Bristow Group during the 2nd quarter worth approximately $114,000.
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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