BrightView (NYSE:BV) Announces Earnings Results

BrightView (NYSE:BV) released its quarterly earnings data on Tuesday. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01, FiscalAI reports. The business had revenue of $702.90 million for the quarter, compared to analyst estimates of $638.80 million. BrightView had a return on equity of 7.85% and a net margin of 1.90%.The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS.

BrightView Price Performance

Shares of BrightView stock traded up $1.14 during trading hours on Wednesday, reaching $12.95. 722,168 shares of the company’s stock were exchanged, compared to its average volume of 567,282. The business has a fifty day moving average of $12.27 and a two-hundred day moving average of $12.66. The company has a market capitalization of $1.22 billion, a P/E ratio of -647.55 and a beta of 1.20. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. BrightView has a 1 year low of $11.06 and a 1 year high of $17.10.

Insider Buying and Selling at BrightView

In other BrightView news, Director William L. Cornog purchased 5,000 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were purchased at an average cost of $13.46 per share, for a total transaction of $67,300.00. Following the completion of the transaction, the director owned 5,000 shares of the company’s stock, valued at $67,300. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada grew its position in shares of BrightView by 4.7% in the first quarter. Royal Bank of Canada now owns 699,959 shares of the company’s stock valued at $8,988,000 after purchasing an additional 31,291 shares in the last quarter. AQR Capital Management LLC boosted its stake in BrightView by 75.9% during the first quarter. AQR Capital Management LLC now owns 209,995 shares of the company’s stock worth $2,696,000 after buying an additional 90,627 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in BrightView by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,443 shares of the company’s stock valued at $455,000 after buying an additional 2,349 shares in the last quarter. Millennium Management LLC increased its stake in shares of BrightView by 54.2% in the 1st quarter. Millennium Management LLC now owns 1,456,682 shares of the company’s stock worth $18,704,000 after acquiring an additional 512,098 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of BrightView by 11.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,658,306 shares of the company’s stock worth $21,293,000 after acquiring an additional 167,966 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BV has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of BrightView from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $11.10 price objective on shares of BrightView in a report on Monday, February 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightView in a research report on Monday. Finally, Morgan Stanley raised their price objective on BrightView from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, BrightView presently has an average rating of “Hold” and a consensus price target of $14.68.

About BrightView

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.