Bristow Group Inc. (BRS) Shares Down 7.3%
Bristow Group Inc. (NYSE:BRS) was down 7.3% during mid-day trading on Wednesday . The company traded as low as $10.91 and last traded at $11.19, with a volume of 930,344 shares traded. The stock had previously closed at $12.07.
A number of equities research analysts have recently issued reports on BRS shares. Zacks Investment Research cut Bristow Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th. Credit Suisse Group AG restated a “hold” rating and set 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 reduced their price objective for the stock from $22.00 to $20.00 in a report on Monday, June 6th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Bristow Group currently has a consensus rating of “Hold” and a consensus price target of $23.67.
The stock’s market capitalization is $396.65 million. The company’s 50-day moving average is $13.37 and its 200 day moving average is $16.82.
Bristow Group (NYSE:BRS) last posted its quarterly earnings data on Wednesday, May 25th. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.38. During the same quarter in the previous year, the firm posted $0.91 EPS. Analysts anticipate that Bristow Group Inc. will post ($0.59) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 29th. Shareholders of record on Tuesday, June 14th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, June 10th. This represents a $0.28 annualized dividend and a yield of 2.47%.
In related news, insider L. Don Miller bought 3,150 shares of Bristow Group stock in a transaction dated Thursday, June 2nd. The stock was purchased at an average cost of $12.69 per share, with a total value of $39,973.50. Following the transaction, the insider now directly owns 8,102 shares of the company’s stock, valued at $102,814.38. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan Baliff bought 7,600 shares of Bristow Group stock in a transaction dated Thursday, June 2nd. The shares were bought at an average cost of $12.98 per share, with a total value of $98,648.00. Following the completion of the transaction, the chief executive officer now directly owns 35,766 shares in the company, valued at $464,242.68. The disclosure for this purchase can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Bristow Group by 4.7% in the fourth quarter. Rhumbline Advisers now owns 59,220 shares of the company’s stock worth $1,534,000 after buying an additional 2,635 shares in the last quarter. Nationwide Fund Advisors increased 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 worth $1,613,000 after buying an additional 27,507 shares in the last quarter. California Public Employees Retirement System increased 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 worth $1,966,000 after buying an additional 7,300 shares in the last quarter. First Trust Advisors LP increased 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 worth $1,987,000 after buying an additional 29,204 shares in the last quarter. Finally, State of Wisconsin Investment Board increased 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 worth $3,940,000 after buying an additional 28,110 shares in the last quarter.
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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