Bristow Group Inc. (BRS) Shares Up 4.6%
Shares of Bristow Group Inc. (NYSE:BRS) shot up 4.6% on Wednesday . The company traded as high as $10.24 and last traded at $10.19, with a volume of 948,752 shares. The stock had previously closed at $9.74.
A number of brokerages have weighed in on BRS. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $15.00 price target on shares of Bristow Group in a research report on Wednesday, June 29th. Barclays PLC upgraded Bristow Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $22.00 to $20.00 in a research note on Monday, June 6th. Finally, Zacks Investment Research upgraded Bristow Group from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $22.40.
The stock’s market cap is $365.87 million. The stock’s 50-day moving average is $12.33 and its 200 day moving average is $16.36.
Bristow Group (NYSE:BRS) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. The firm had revenue of $356.10 million for the quarter, compared to the consensus estimate of $383.79 million. Bristow Group’s revenue was down 20.9% on a year-over-year basis. During the same period last year, the company posted $0.56 EPS. Equities research analysts anticipate that Bristow Group Inc. will post ($0.59) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.88%.
In other news, Director Michael A. Flick bought 5,578 shares of the business’s stock in a transaction that occurred on Tuesday, June 7th. The stock was acquired at an average cost of $16.36 per share, for a total transaction of $91,256.08. Following the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $327,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider L. Don Miller bought 3,150 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was purchased at an average price of $12.69 per share, with a total value of $39,973.50. Following the completion of the purchase, the insider now directly owns 8,102 shares in the company, valued at approximately $102,814.38. The disclosure for this purchase can be found here.
Other large investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Bristow Group by 4.7% in the fourth quarter. Rhumbline Advisers now owns 59,220 shares of the company’s stock valued at $1,534,000 after buying an additional 2,635 shares during the period. Nationwide Fund Advisors increased its stake in shares of Bristow Group by 79.1% in the fourth quarter. Nationwide Fund Advisors now owns 62,271 shares of the company’s stock valued at $1,613,000 after buying an additional 27,507 shares during the period. California Public Employees Retirement System increased its stake in shares of Bristow Group by 10.6% in the fourth quarter. California Public Employees Retirement System now owns 75,900 shares of the company’s stock valued at $1,966,000 after buying an additional 7,300 shares during the period. First Trust Advisors LP increased its stake in shares of Bristow Group by 61.5% in the fourth quarter. First Trust Advisors LP now owns 76,703 shares of the company’s stock valued at $1,987,000 after buying an additional 29,204 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in shares of Bristow Group by 22.7% in the fourth quarter. State of Wisconsin Investment Board now owns 152,129 shares of the company’s stock valued at $3,940,000 after buying an additional 28,110 shares during the period.
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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