Bristow Group Inc. (BRS) Shares Up 6.9%
Shares of Bristow Group Inc. (NYSE:BRS) shot up 6.9% during mid-day trading on Friday . The stock traded as high as $11.49 and last traded at $11.48, with a volume of 436,490 shares changing hands. The stock had previously closed at $10.74.
Several research firms have issued reports on BRS. Zacks Investment Research raised Bristow Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Cowen and Company dropped their price target on Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday. Capital One Financial Corp. downgraded Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Credit Suisse Group AG restated a “hold” rating and issued a $15.00 price objective on shares of Bristow Group in a report on Wednesday, June 29th. Finally, Barclays PLC upgraded Bristow Group from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $22.00 to $20.00 in a report on Monday, June 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $22.20.
The company has a 50-day moving average price of $11.81 and a 200-day moving average price of $15.39. The firm’s market capitalization is $389.55 million.
Bristow Group (NYSE:BRS) last issued its quarterly earnings results 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 business had revenue of $356.10 million for the quarter, compared to analyst estimates of $383.79 million. The company’s revenue was down 20.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. On average, equities analysts forecast that Bristow Group Inc. will post ($1.76) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 2.52%.
In related news, CEO Jonathan Baliff acquired 1,600 shares of the company’s stock in a transaction dated Tuesday, June 7th. The shares were purchased at an average price of $16.12 per share, for a total transaction of $25,792.00. Following the completion of the acquisition, the chief executive officer now owns 37,366 shares of the company’s stock, valued at $602,339.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Chet Akiri acquired 5,565 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were bought at an average price of $11.62 per share, for a total transaction of $64,665.30. Following the acquisition, the insider now directly owns 5,565 shares of the company’s stock, valued at approximately $64,665.30. The disclosure for this purchase can be found here.
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.