Bristow Group Inc (NYSE:BRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, September 15th.
According to Zacks, “Bristow Group Inc. is a leading provider of helicopter services to the worldwide energy industry. Through its subsidiaries, affiliates and joint ventures, the Company has major transportation operations in the U.S. Gulf of Mexico and the North Sea, and in most of the other major offshore oil and gas producing regions of the world, including Alaska, Australia, Brazil, Mexico, Nigeria, Russia and Trinidad. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. “
Several other brokerages have also issued reports on BRS. BidaskClub raised Bristow Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Barclays PLC reissued a “hold” rating and issued a $10.00 target price on shares of Bristow Group in a research note on Friday, August 11th. Cowen and Company lowered Bristow Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $14.00 to $7.00 in a research note on Friday, May 26th. ValuEngine raised Bristow Group from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $10.00 price target on shares of Bristow Group in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Bristow Group presently has a consensus rating of “Hold” and a consensus target price of $12.60.
Shares of Bristow Group (NYSE:BRS) opened at 9.34 on Friday. The firm’s market capitalization is $329.95 million. Bristow Group has a 12 month low of $6.21 and a 12 month high of $21.88. The company has a 50-day moving average price of $8.27 and a 200-day moving average price of $10.21.
Bristow Group (NYSE:BRS) last issued its quarterly earnings results on Thursday, August 3rd. The oil and gas company reported ($0.83) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.11) by $0.28. Bristow Group had a negative return on equity of 6.83% and a negative net margin of 13.32%. The firm had revenue of $352.10 million during the quarter, compared to analyst estimates of $299.93 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company’s revenue was down 4.7% compared to the same quarter last year. Equities analysts forecast that Bristow Group will post ($3.42) EPS for the current fiscal year.
In related news, insider Jonathan Baliff purchased 6,500 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were bought at an average price of $7.70 per share, for a total transaction of $50,050.00. Following the purchase, the insider now directly owns 67,344 shares of the company’s stock, valued at approximately $518,548.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Mason Street Advisors LLC grew its stake in shares of Bristow Group by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 7,468 shares of the oil and gas company’s stock worth $114,000 after buying an additional 489 shares during the last quarter. Invictus RG purchased a new stake in shares of Bristow Group in the 1st quarter worth approximately $136,000. Nisa Investment Advisors LLC grew its stake in shares of Bristow Group by 959.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 11,655 shares of the oil and gas company’s stock worth $177,000 after buying an additional 10,555 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Bristow Group by 1.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 13,000 shares of the oil and gas company’s stock worth $198,000 after buying an additional 200 shares during the last quarter. Finally, Winslow Asset Management Inc. grew its stake in shares of Bristow Group by 7.4% in the 2nd quarter. Winslow Asset Management Inc. now owns 13,075 shares of the oil and gas company’s stock worth $100,000 after buying an additional 900 shares during the last quarter.
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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