Bristow Group Inc. (BRS) Bonds Rise 1.5% During Trading
An issue of Bristow Group Inc. (NYSE:BRS) bonds rose 1.5% against their face value during trading on Friday. The high-yield issue of debt has a 6.25% coupon and is set to mature on October 15, 2022. The debt is now trading at $73.50 and was trading at $74.75 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
Several equities research analysts have issued reports on the company. Cowen and Company cut their target price on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. Capital One Financial Corp. cut Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Zacks Investment Research cut Bristow Group from a “buy” rating to a “sell” rating in a research note on Thursday, August 4th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Bristow Group in a research note on Wednesday, June 29th. Finally, Barclays PLC raised Bristow Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $22.00 to $20.00 in a research note on Monday, June 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $22.20.
Shares of Bristow Group Inc. (NYSE:BRS) traded up 0.36% during mid-day trading on Friday, reaching $14.02. The company’s stock had a trading volume of 1,133,290 shares. The firm has a 50-day moving average of $12.02 and a 200-day moving average of $14.76. The firm’s market capitalization is $491.58 million. Bristow Group Inc. has a 52 week low of $9.17 and a 52 week high of $37.19.
Bristow Group (NYSE:BRS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by $0.21. Bristow Group had a positive return on equity of 1.16% and a negative net margin of 6.50%. The business had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $383.79 million. During the same period in the prior year, the company earned $0.56 EPS. The company’s revenue for the quarter was down 20.9% compared to the same quarter last year. Equities research analysts forecast that Bristow Group Inc. will post ($1.76) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, August 30th. Bristow Group’s dividend payout ratio is presently -9.30%.
In other Bristow Group news, insider Chet Akiri purchased 5,565 shares of Bristow Group stock in a transaction on Monday, August 29th. The shares were bought at an average price of $11.62 per share, with a total value of $64,665.30. Following the purchase, the insider now directly owns 5,565 shares in the company, valued at approximately $64,665.30. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Baliff purchased 8,200 shares of Bristow Group stock in a transaction on Monday, August 15th. The shares were acquired at an average cost of $12.12 per share, for a total transaction of $99,384.00. Following the purchase, the insider now owns 50,998 shares in the company, valued at $618,095.76. The disclosure for this purchase can be found here. Company insiders own 9.60% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Skyline Asset Management LP increased its stake in Bristow Group by 4.0% in the first quarter. Skyline Asset Management LP now owns 435,007 shares of the company’s stock worth $8,230,000 after buying an additional 16,900 shares during the last quarter. A.R.T. Advisors LLC purchased a new stake in Bristow Group during the first quarter worth approximately $2,015,000. Jacobs Levy Equity Management Inc. purchased a new stake in Bristow Group during the first quarter worth approximately $1,743,000. Kennedy Capital Management Inc. purchased a new stake in Bristow Group during the first quarter worth approximately $198,000. Finally, Geode Capital Management LLC increased its stake in Bristow Group by 1.8% in the first quarter. Geode Capital Management LLC now owns 217,393 shares of the company’s stock worth $4,113,000 after buying an additional 3,773 shares during the last quarter.
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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