Bristow Group Inc. (BRS) Shares Down 4.7%
Bristow Group Inc. (NYSE:BRS) shares dropped 4.7% during mid-day trading on Wednesday . The company traded as low as $12.70 and last traded at $12.96, with a volume of 349,212 shares. The stock had previously closed at $13.60.
BRS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Bristow Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 21st. Barclays PLC upgraded shares of Bristow Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $22.00 to $20.00 in a research note on Monday, June 6th. Finally, Credit Suisse Group AG reiterated a “hold” rating and issued a $15.00 price objective on shares of Bristow Group in a research note on Wednesday, June 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $23.67.
The company’s 50 day moving average is $13.48 and its 200-day moving average is $17.56. The stock’s market cap is $467.31 million.
Bristow Group (NYSE:BRS) last issued its earnings results on Wednesday, May 25th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.38. During the same quarter last year, the business posted $0.91 EPS. Equities research analysts expect that Bristow Group Inc. will post ($0.52) EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 29th. Stockholders of record on Tuesday, June 14th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Friday, June 10th.
In related news, insider L. Don Miller bought 3,150 shares of the stock in a transaction dated Thursday, June 2nd. The stock was acquired at an average price of $12.69 per share, for a total transaction of $39,973.50. Following the acquisition, the insider now owns 8,102 shares in the company, valued at approximately $102,814.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jonathan Baliff bought 1,600 shares of the stock in a transaction dated Tuesday, June 7th. The stock was bought at an average price of $16.12 per share, with a total value of $25,792.00. Following the acquisition, the chief executive officer now owns 37,366 shares in the company, valued at approximately $602,339.92. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently modified their holdings of the stock. Nationwide Fund Advisors boosted its position 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 last quarter. First Trust Advisors LP increased its stake 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. Rhumbline Advisers increased its stake 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. California Public Employees Retirement System increased its stake 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. Finally, New York State Common Retirement Fund increased its stake in Bristow Group by 1.2% in the fourth quarter. New York State Common Retirement Fund now owns 346,560 shares of the company’s stock valued at $8,976,000 after buying an additional 4,100 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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