Bristow Group (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, January 10th.
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 recently commented on BRS. Barclays increased their price target on shares of Bristow Group from $10.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Cowen set a $7.00 target price on shares of Bristow Group and gave the stock a “hold” rating in a research note on Friday, October 6th. One investment 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’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.00.
Bristow Group (BRS) traded down $0.46 during trading on Wednesday, reaching $15.23. 468,286 shares of the company were exchanged, compared to its average volume of 618,431. 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 has a 1-year low of $6.21 and a 1-year high of $21.00.
Bristow Group (NYSE:BRS) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.62. The firm had revenue of $358.00 million during the quarter, compared to analysts’ expectations of $345.87 million. Bristow Group had a negative net margin of 13.31% and a negative return on equity of 7.08%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) earnings per share. research analysts anticipate that Bristow Group will post -3.34 earnings per share for the current year.
In other Bristow Group news, insider Jonathan Baliff purchased 2,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were acquired at an average cost of $14.84 per share, with a total value of $29,680.00. Following the completion of the transaction, the insider now owns 69,344 shares in the company, valued at $1,029,064.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Investec Asset Management LTD bought a new position in Bristow Group in the 3rd quarter valued at about $2,422,000. Schwab Charles Investment Management Inc. increased its holdings in Bristow Group by 13.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 549,184 shares of the oil and gas company’s stock valued at $4,202,000 after buying an additional 65,191 shares during the period. Goldman Sachs Group Inc. increased its holdings in Bristow Group by 14.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 128,295 shares of the oil and gas company’s stock valued at $981,000 after buying an additional 16,036 shares during the period. BlueCrest Capital Management Ltd increased its holdings in Bristow Group by 224.9% in the 2nd quarter. BlueCrest Capital Management Ltd now owns 45,514 shares of the oil and gas company’s stock valued at $348,000 after buying an additional 31,504 shares during the period. Finally, Schroder Investment Management Group grew its holdings in shares of Bristow Group by 75.6% during the 2nd quarter. Schroder Investment Management Group now owns 59,700 shares of the oil and gas company’s stock valued at $439,000 after purchasing an additional 25,700 shares during the last quarter.
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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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