Bristow Group Inc. (NYSE:BRS) was downgraded by stock analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday. They presently have a $16.00 price objective on the stock, down from their prior price objective of $20.00. Barclays PLC’s price target suggests a potential upside of 5.75% from the company’s current price.
Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Bristow Group from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Tuesday, August 2nd. Capital One Financial Corp. cut Bristow Group from an “overweight” rating to an “equal weight” rating in a report on Tuesday, August 16th. Finally, Cowen and Company decreased their price objective on Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Bristow Group (NYSE:BRS) traded down 1.75% during mid-day trading on Tuesday, reaching $15.13. 291,249 shares of the company traded hands. Bristow Group has a 12-month low of $9.17 and a 12-month high of $31.36. The company’s 50 day moving average price is $12.35 and its 200 day moving average price is $12.74. The firm’s market capitalization is $530.99 million.
Bristow Group (NYSE:BRS) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.35) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.12. Bristow Group had a positive return on equity of 0.32% and a negative net margin of 6.01%. The business earned $343.70 million during the quarter, compared to the consensus estimate of $371.86 million. During the same period in the prior year, the company posted $0.04 EPS. The firm’s revenue for the quarter was down 18.0% compared to the same quarter last year. Equities research analysts predict that Bristow Group will post ($1.59) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.28 annualized dividend and a yield of 1.85%. Bristow Group’s payout ratio is presently -10.57%.
In other Bristow Group news, Director Ian Godden bought 2,000 shares of Bristow Group stock in a transaction on Friday, November 18th. The shares were acquired at an average price of $13.71 per share, for a total transaction of $27,420.00. Following the completion of the purchase, the director now directly owns 28,673 shares in the company, valued at approximately $393,106.83. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Chet Akiri bought 5,565 shares of Bristow Group stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $11.62 per share, for a total transaction of $64,665.30. Following the purchase, the insider now owns 5,565 shares of the company’s stock, valued at $64,665.30. The disclosure for this purchase can be found here. Corporate insiders own 9.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its position in Bristow Group by 1.4% in the first quarter. BlackRock Fund Advisors now owns 2,368,139 shares of the company’s stock worth $44,805,000 after buying an additional 32,136 shares during the last quarter. JPMorgan Chase & Co. increased its position in Bristow Group by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 200,404 shares of the company’s stock worth $3,792,000 after buying an additional 58,933 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in Bristow Group during the first quarter worth about $198,000. Jacobs Levy Equity Management Inc. purchased a new position in Bristow Group during the first quarter worth about $1,743,000. Finally, First Manhattan Co. increased its position in Bristow Group by 115.1% in the second quarter. First Manhattan Co. now owns 90,651 shares of the company’s stock worth $1,034,000 after buying an additional 48,500 shares during the last quarter.
About Bristow Group