Zacks Investment Research cut shares of Bristow Group Inc (NYSE:BRS) from a buy rating to a hold rating in a report published on Thursday.
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. “
Several other equities analysts have also issued reports on BRS. Barclays PLC reaffirmed a hold rating and issued a $10.00 price target on shares of Bristow Group in a report on Friday, August 11th. BidaskClub raised shares of Bristow Group from a sell rating to a hold rating in a report on Friday, August 25th. ValuEngine raised shares of Bristow Group from a strong sell rating to a sell rating in a report on Friday, September 1st. Cowen and Company lowered shares of Bristow Group from an outperform rating to a market perform rating and cut their price target for the stock from $14.00 to $7.00 in a report on Friday, May 26th. Finally, Credit Suisse Group reaffirmed a hold rating and issued a $10.00 price target on shares of Bristow Group in a report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. Bristow Group presently has an average rating of Hold and a consensus target price of $12.60.
Shares of Bristow Group (BRS) opened at 8.62 on Thursday. Bristow Group has a 1-year low of $6.21 and a 1-year high of $21.88. The stock’s market cap is $304.52 million. The company has a 50 day moving average price of $7.86 and a 200 day moving average price of $10.64.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.11) by $0.28. Bristow Group had a negative net margin of 13.32% and a negative return on equity of 6.83%. The business had revenue of $352.10 million for the quarter, compared to analyst estimates of $299.93 million. During the same period in the previous year, the company earned ($0.34) earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. On average, equities analysts anticipate that Bristow Group will post ($3.42) EPS for the current year.
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In related news, insider Jonathan Baliff acquired 6,500 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were purchased at an average cost of $7.70 per share, with a total value of $50,050.00. Following the completion of the acquisition, the insider now directly owns 67,344 shares of the company’s stock, valued at $518,548.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Bristow Group during the first quarter valued at $249,000. ING Groep NV grew its holdings in shares of Bristow Group by 100.0% during the second quarter. ING Groep NV now owns 320,000 shares of the oil and gas company’s stock valued at $2,448,000 after buying an additional 160,000 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Bristow Group by 14.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 483,993 shares of the oil and gas company’s stock valued at $7,362,000 after buying an additional 61,868 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Bristow Group by 33.8% during the fourth quarter. Teachers Advisors LLC now owns 85,014 shares of the oil and gas company’s stock valued at $1,741,000 after buying an additional 21,467 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Bristow Group by 19.0% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 77,044 shares of the oil and gas company’s stock valued at $1,172,000 after buying an additional 12,283 shares during the last quarter.
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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