Bristow Group Inc. (BRS) Sees Strong Trading Volume
Shares of Bristow Group Inc. (NYSE:BRS) saw unusually-high trading volume on Monday . Approximately 1,505,969 shares were traded during trading, an increase of 8% from the previous session’s volume of 1,390,809 shares.The stock last traded at $12.20 and had previously closed at $10.38.
BRS has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Barclays PLC raised shares of Bristow Group from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $22.00 to $20.00 in a research report on Monday, June 6th. Finally, Credit Suisse Group AG reissued a “hold” rating and set a $15.00 target price on shares of Bristow Group in a research report on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $22.40.
The stock’s market cap is $421.81 million. The stock has a 50-day moving average price of $12.15 and a 200 day moving average price of $16.23.
Bristow Group (NYSE:BRS) last issued its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. The firm earned $356.10 million during the quarter, compared to analyst estimates of $383.79 million. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue for the quarter was down 20.9% on a year-over-year basis. On average, analysts forecast that Bristow Group Inc. will post ($0.73) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, September 1st will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Tuesday, August 30th.
In related news, insider L. Don Miller purchased 3,150 shares of Bristow Group stock in a transaction that occurred on Thursday, June 2nd. The shares were purchased at an average cost of $12.69 per share, with a total value of $39,973.50. Following the transaction, the insider now owns 8,102 shares of the company’s stock, valued at approximately $102,814.38. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan Baliff purchased 1,600 shares of Bristow Group stock in a transaction that occurred on Tuesday, June 7th. The shares were bought at an average cost of $16.12 per share, for a total transaction of $25,792.00. Following the completion of the transaction, the chief executive officer now directly owns 37,366 shares in the company, valued at approximately $602,339.92. The disclosure for this purchase can be found here.
A number of institutional investors recently added to or reduced their stakes in BRS. Rhumbline Advisers raised its position in 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 raised its position in 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 raised its position in 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 raised its position in 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 raised its position in 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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