An issue of Bristow Group Inc. (NYSE:BRS) bonds rose 1.5% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.25% coupon and will mature on October 15, 2022. The bonds in the issue are now trading at $73.50 and were trading at $74.75 one week ago. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
BRS has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Bristow Group from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, August 2nd. Capital One Financial Corp. downgraded shares of Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Credit Suisse Group AG restated a “hold” rating and issued a $15.00 target price on shares of Bristow Group in a research note on Wednesday, June 29th. Cowen and Company dropped their target price on shares of Bristow Group from $18.00 to $14.00 and set an “outperform” rating on the stock in a research note on Thursday, September 1st. Finally, Barclays PLC upgraded shares of Bristow Group from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $22.00 to $20.00 in a research note on Monday, June 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Bristow Group has a consensus rating of “Hold” and an average price target of $22.20.
Shares of Bristow Group Inc. (NYSE:BRS) opened at 14.02 on Friday. Bristow Group Inc. has a 12 month low of $9.17 and a 12 month high of $37.19. The stock’s market cap is $491.58 million. The stock has a 50 day moving average of $12.02 and a 200 day moving average of $14.76.
Bristow Group (NYSE:BRS) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. The business earned $356.10 million during the quarter, compared to analyst estimates of $383.79 million. Bristow Group had a negative net margin of 6.50% and a positive return on equity of 1.16%. Bristow Group’s revenue was down 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, equities analysts anticipate that Bristow Group Inc. will post ($1.76) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $0.28 dividend on an annualized basis and a yield of 2.00%. Bristow Group’s payout ratio is -9.30%.
In other Bristow Group news, insider Jonathan Baliff acquired 8,200 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were purchased at an average cost of $12.12 per share, with a total value of $99,384.00. Following the purchase, the insider now owns 50,998 shares in the company, valued at $618,095.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Chet Akiri bought 5,565 shares of Bristow Group stock in a transaction on Monday, August 29th. The stock was purchased at an average price of $11.62 per share, for a total transaction of $64,665.30. Following the completion of the acquisition, the insider now owns 5,565 shares in the company, valued at approximately $64,665.30. The disclosure for this purchase can be found here. 9.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRS. Whittier Trust Co. raised its position in Bristow Group by 1.2% in the second quarter. Whittier Trust Co. now owns 15,349 shares of the company’s stock worth $175,000 after buying an additional 186 shares during the period. Arizona State Retirement System raised its position in Bristow Group by 1.1% in the second quarter. Arizona State Retirement System now owns 18,193 shares of the company’s stock worth $208,000 after buying an additional 200 shares during the period. Teachers Advisors Inc. raised its position in Bristow Group by 1.3% in the second quarter. Teachers Advisors Inc. now owns 53,029 shares of the company’s stock worth $605,000 after buying an additional 691 shares during the period. Magnetar Financial LLC raised its position in Bristow Group by 7.9% in the first quarter. Magnetar Financial LLC now owns 15,092 shares of the company’s stock worth $286,000 after buying an additional 1,099 shares during the period. Finally, BlackRock Advisors LLC raised its position in Bristow Group by 7.3% in the second quarter. BlackRock Advisors LLC now owns 16,877 shares of the company’s stock worth $193,000 after buying an additional 1,143 shares during the period.
Bristow Group Company Profile
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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