Bristow Group (BRS) Lowered to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Bristow Group (NYSE:BRS) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
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 research firms also recently commented on BRS. Barclays increased their price objective on Bristow Group from $10.00 to $16.00 and gave the stock an equal weight rating in a report on Tuesday, November 14th. Cowen set a $7.00 price objective on Bristow Group and gave the stock a hold rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $15.00.
Shares of Bristow Group (NYSE BRS) traded up $0.30 on Wednesday, hitting $16.58. The stock had a trading volume of 755,679 shares, compared to its average volume of 887,653. The firm has a market cap of $586.36, a P/E ratio of -3.13 and a beta of 3.09. Bristow Group has a one year low of $6.21 and a one year high of $21.00. The company has a quick ratio of 1.02, a current ratio of 1.34 and a debt-to-equity ratio of 0.97.
Bristow Group (NYSE:BRS) last issued its earnings results on Wednesday, November 8th. The oil and gas company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.62. The company had revenue of $358.00 million for the quarter, compared to the consensus estimate of $345.87 million. Bristow Group had a negative return on equity of 7.08% and a negative net margin of 13.31%. The firm’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. equities analysts predict that Bristow Group will post -3.34 earnings per share for the current year.
In other news, insider Jonathan Baliff acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were purchased at an average price of $14.84 per share, for a total transaction of $29,680.00. Following the completion of the acquisition, the insider now owns 69,344 shares of the company’s stock, valued at approximately $1,029,064.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 10.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in BRS. BNP Paribas Arbitrage SA increased its holdings in Bristow Group by 87.9% in the second quarter. BNP Paribas Arbitrage SA now owns 14,117 shares of the oil and gas company’s stock worth $108,000 after buying an additional 6,604 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Bristow Group by 4.5% during the second quarter. Public Employees Retirement System of Ohio now owns 14,584 shares of the oil and gas company’s stock valued at $112,000 after purchasing an additional 634 shares during the last quarter. HighTower Advisors LLC acquired a new position in Bristow Group during the second quarter valued at approximately $126,000. Arizona State Retirement System grew its holdings in Bristow Group by 0.6% during the second quarter. Arizona State Retirement System now owns 16,693 shares of the oil and gas company’s stock valued at $128,000 after purchasing an additional 100 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Bristow Group during the second quarter valued at approximately $130,000.
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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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