Zacks Investment Research Upgrades Bristow Group Inc (BRS) to Hold
Bristow Group Inc (NYSE:BRS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
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 weighed in on BRS. BidaskClub raised Bristow Group from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Barclays PLC reissued a “hold” rating and issued a $10.00 target price on shares of Bristow Group in a report on Friday, August 11th. ValuEngine raised Bristow Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Finally, Cowen and Company set a $7.00 target price on Bristow Group and gave the company a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.60.
Bristow Group (NYSE:BRS) last announced its quarterly earnings data on Wednesday, November 8th. The oil and gas company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.95) by $0.62. Bristow Group had a negative return on equity of 7.08% and a negative net margin of 13.31%. The firm had revenue of $358.00 million for the quarter, compared to analyst estimates of $345.87 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Bristow Group’s quarterly revenue was up 4.2% on a year-over-year basis. equities analysts predict that Bristow Group will post -3.43 EPS for the current fiscal year.
In related news, insider Jonathan Baliff acquired 6,500 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were acquired at an average price of $7.70 per share, with a total value of $50,050.00. Following the completion of the purchase, the insider now directly owns 67,344 shares in the company, valued at $518,548.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. 10.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. lifted its position in Bristow Group by 14.4% during the third quarter. Schwab Charles Investment Management Inc. now owns 628,169 shares of the oil and gas company’s stock worth $5,874,000 after buying an additional 78,985 shares during the period. Investec Asset Management LTD purchased a new position in Bristow Group during the third quarter worth about $2,422,000. Wells Fargo & Company MN lifted its position in Bristow Group by 39.1% during the third quarter. Wells Fargo & Company MN now owns 175,838 shares of the oil and gas company’s stock worth $1,645,000 after buying an additional 49,439 shares during the period. Trexquant Investment LP purchased a new position in Bristow Group during the third quarter worth about $342,000. Finally, JPMorgan Chase & Co. lifted its position in Bristow Group by 17,519.3% during the third quarter. JPMorgan Chase & Co. now owns 456,341 shares of the oil and gas company’s stock worth $4,303,000 after buying an additional 453,751 shares during the period.
About Bristow Group
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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