Zacks Investment Research downgraded shares of Bristow Group (NYSE:BRS) from a hold rating to a sell rating in a research note released on Monday morning.
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. “
A number of other brokerages also recently issued reports on BRS. Barclays lifted their price target on Bristow Group from $10.00 to $16.00 and gave the company an equal weight rating in a report on Tuesday, November 14th. Credit Suisse Group lifted their price target on Bristow Group from $8.00 to $14.00 and gave the company a neutral rating in a report on Monday. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Bristow Group currently has an average rating of Hold and a consensus price target of $13.25.
Bristow Group (NYSE:BRS) last announced its quarterly earnings results on Thursday, February 8th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.13. Bristow Group had a negative return on equity of 7.91% and a negative net margin of 12.13%. The business had revenue of $345.53 million for the quarter, compared to the consensus estimate of $354.10 million. During the same period last year, the business posted ($0.29) EPS. The business’s revenue was up 6.5% compared to the same quarter last year. analysts anticipate that Bristow Group will post -3.37 EPS for the current year.
In other Bristow Group news, insider Jonathan Baliff acquired 2,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was purchased at an average price of $14.84 per share, with a total value of $29,680.00. Following the transaction, the insider now directly owns 69,344 shares of the company’s stock, valued at $1,029,064.96. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in shares of Bristow Group by 4.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 14,584 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 634 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of Bristow Group by 1.1% in the 2nd quarter. Teachers Advisors LLC now owns 86,977 shares of the oil and gas company’s stock worth $665,000 after purchasing an additional 969 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Bristow Group by 6.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,466 shares of the oil and gas company’s stock worth $218,000 after purchasing an additional 1,737 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Bristow Group by 21.9% in the 2nd quarter. Voya Investment Management LLC now owns 16,965 shares of the oil and gas company’s stock worth $130,000 after purchasing an additional 3,043 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Bristow Group by 44.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,360 shares of the oil and gas company’s stock worth $190,000 after purchasing an additional 6,243 shares in 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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