BrightView (NYSE:BV) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

BrightView (NYSE:BV) announced its quarterly earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02), FiscalAI reports. BrightView had a net margin of 1.90% and a return on equity of 7.82%. The business had revenue of $614.70 million for the quarter, compared to the consensus estimate of $589.91 million. During the same quarter last year, the firm posted $0.04 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year.

BrightView Price Performance

Shares of BrightView stock traded down $0.04 on Thursday, hitting $12.66. 205,073 shares of the company traded hands, compared to its average volume of 549,843. BrightView has a 12-month low of $11.06 and a 12-month high of $17.10. The firm’s 50-day simple moving average is $12.94 and its 200 day simple moving average is $13.48. The company has a market cap of $1.20 billion, a P/E ratio of -632.75 and a beta of 1.28. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61.

Insiders Place Their Bets

In other news, Director William L. Cornog acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were purchased at an average price of $12.84 per share, for a total transaction of $128,400.00. Following the completion of the transaction, the director owned 30,000 shares of the company’s stock, valued at $385,200. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Mark Gottsegen sold 35,000 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $12.62, for a total transaction of $441,700.00. Following the sale, the executive vice president owned 142,958 shares of the company’s stock, valued at approximately $1,804,129.96. This represents a 19.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.80% of the stock is owned by company insiders.

Institutional Trading of BrightView

A number of institutional investors and hedge funds have recently bought and sold shares of BV. BNP Paribas Financial Markets grew its holdings in shares of BrightView by 66.8% during the second quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock valued at $93,000 after buying an additional 2,240 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of BrightView by 225.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock worth $94,000 after purchasing an additional 3,909 shares in the last quarter. Glenmede Investment Management LP purchased a new position in shares of BrightView in the third quarter worth $139,000. Landscape Capital Management L.L.C. bought a new position in shares of BrightView during the third quarter valued at $163,000. Finally, Entropy Technologies LP purchased a new stake in shares of BrightView during the third quarter valued at $185,000. 92.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Robert W. Baird decreased their target price on shares of BrightView from $19.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of BrightView in a report on Wednesday, January 21st. Morgan Stanley lifted their target price on BrightView from $12.00 to $13.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. CJS Securities upgraded BrightView to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, The Goldman Sachs Group reduced their target price on shares of BrightView from $13.50 to $10.50 and set a “sell” rating for the company in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.70.

BrightView Company Profile

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.