Zacks Investment Research cut shares of Bristow Group (NYSE:BRS) from a buy rating to a hold rating in a report released 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 analysts have also commented on the company. ValuEngine raised Bristow Group from a sell rating to a hold rating in a report on Monday, April 2nd. Credit Suisse Group raised their price objective on Bristow Group from $8.00 to $14.00 and gave the company a neutral rating in a report on Monday, February 12th. Six research analysts have rated the stock with a hold rating, Bristow Group presently has an average rating of Hold and a consensus price target of $13.50.
BRS traded down $0.36 during trading on Thursday, hitting $16.10. The company’s stock had a trading volume of 82,096 shares, compared to its average volume of 572,109. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. Bristow Group has a twelve month low of $6.21 and a twelve month high of $17.35. The firm has a market cap of $574.17, a P/E ratio of -7.73 and a beta of 3.00.
Bristow Group (NYSE:BRS) last issued its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.13. Bristow Group had a negative return on equity of 7.91% and a negative net margin of 12.13%. The company had revenue of $345.53 million for the quarter, compared to analyst estimates of $354.10 million. During the same period last year, the company earned ($0.29) earnings per share. Bristow Group’s quarterly revenue was up 6.5% compared to the same quarter last year. equities research analysts forecast that Bristow Group will post -2.5 EPS for the current year.
In other news, insider L. Don Miller purchased 2,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were purchased at an average cost of $12.58 per share, with a total value of $25,160.00. Following the completion of the purchase, the insider now directly owns 14,199 shares of the company’s stock, valued at approximately $178,623.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Baliff purchased 3,900 shares of the stock in a transaction dated Thursday, March 15th. The stock was purchased at an average cost of $12.97 per share, for a total transaction of $50,583.00. Following the completion of the purchase, the chief executive officer now directly owns 73,244 shares of the company’s stock, valued at $949,974.68. The disclosure for this purchase can be found here. Insiders own 10.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Wolverine Asset Management LLC boosted its stake in shares of Bristow Group by 1,537.2% in the fourth quarter. Wolverine Asset Management LLC now owns 149,100 shares of the oil and gas company’s stock worth $2,008,000 after acquiring an additional 139,993 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Bristow Group by 39.1% in the third quarter. Wells Fargo & Company MN now owns 175,838 shares of the oil and gas company’s stock worth $1,645,000 after acquiring an additional 49,439 shares during the last quarter. Investors Research Corp acquired a new stake in shares of Bristow Group in the fourth quarter worth approximately $193,000. Arizona State Retirement System boosted its stake in shares of Bristow Group by 224.0% in the fourth quarter. Arizona State Retirement System now owns 54,089 shares of the oil and gas company’s stock worth $729,000 after acquiring an additional 37,396 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Bristow Group by 17,519.3% in the third quarter. JPMorgan Chase & Co. now owns 456,341 shares of the oil and gas company’s stock worth $4,303,000 after acquiring an additional 453,751 shares during the last quarter.
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Bristow Group Company Profile
Bristow Group Inc provides industrial aviation services to the offshore energy companies in Europe Caspian, Africa, the Americas, and the Asia Pacific. The company offers helicopter transportation services to transport personnel between onshore bases and offshore production platforms, drilling rigs, and other installations, as well as to transport time-sensitive equipment to these offshore locations.
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