Bristow Group Inc (NYSE:BRS) Issues Earnings Results, Beats Estimates By $0.28 EPS
Bristow Group Inc (NYSE:BRS) posted its quarterly earnings data on Thursday. The oil and gas company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.11) by $0.28, Bloomberg Earnings reports. Bristow Group had a negative net margin of 13.32% and a negative return on equity of 6.69%. The firm had revenue of $352.10 million during the quarter, compared to analyst estimates of $299.93 million. During the same quarter last year, the business posted ($0.34) EPS. The company’s revenue was down 4.7% on a year-over-year basis.
Shares of Bristow Group (NYSE:BRS) traded up 8.14% during midday trading on Friday, hitting $7.97. 2,062,516 shares of the company’s stock were exchanged. The company has a 50-day moving average of $7.23 and a 200-day moving average of $12.47. Bristow Group has a 52 week low of $6.21 and a 52 week high of $21.88. The firm’s market cap is $280.68 million.
Several large investors have recently modified their holdings of the company. Boston Partners increased its stake in shares of Bristow Group by 112.2% in the second quarter. Boston Partners now owns 1,818,857 shares of the oil and gas company’s stock valued at $13,914,000 after buying an additional 961,730 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Bristow Group during the first quarter valued at about $6,242,000. Ariel Investments LLC increased its stake in shares of Bristow Group by 3.8% in the first quarter. Ariel Investments LLC now owns 10,160,521 shares of the oil and gas company’s stock valued at $154,542,000 after buying an additional 371,009 shares in the last quarter. State Street Corp increased its stake in shares of Bristow Group by 29.6% in the first quarter. State Street Corp now owns 1,419,712 shares of the oil and gas company’s stock valued at $21,594,000 after buying an additional 324,214 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Bristow Group by 157.5% in the fourth quarter. FMR LLC now owns 455,300 shares of the oil and gas company’s stock valued at $9,325,000 after buying an additional 278,500 shares in the last quarter.
A number of research firms recently commented on BRS. BidaskClub lowered shares of Bristow Group from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Barclays PLC set a $13.00 price objective on shares of Bristow Group and gave the stock a “hold” rating in a research note on Friday, May 26th. Credit Suisse Group reaffirmed a “hold” rating and issued a $10.00 price objective on shares of Bristow Group in a research note on Sunday, May 28th. ValuEngine raised shares of Bristow Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 20th. Finally, Zacks Investment Research raised shares of Bristow Group from a “sell” rating to a “hold” rating in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Bristow Group currently has an average rating of “Hold” and an average target price of $15.60.
About Bristow Group
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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