BrightView (NYSE:BV) Announces Earnings Results, Beats Estimates By $0.01 EPS

BrightView (NYSE:BV) released its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01, FiscalAI reports. The firm had revenue of $702.90 million for the quarter, compared to analysts’ expectations of $638.80 million. BrightView had a net margin of 1.90% and a return on equity of 7.85%.

BrightView Stock Performance

Shares of BV traded up $0.13 during mid-day trading on Tuesday, hitting $11.75. 1,134,057 shares of the company’s stock were exchanged, compared to its average volume of 565,756. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.64. BrightView has a 52 week low of $11.06 and a 52 week high of $17.10. The stock’s 50-day simple moving average is $12.31 and its 200-day simple moving average is $12.67. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -587.50 and a beta of 1.20.

Analysts Set New Price Targets

BV has been the topic of several research reports. Morgan Stanley upped their target price on BrightView from $13.00 to $14.00 and gave the company an “equal weight” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. boosted their price target on BrightView from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, February 5th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $11.10 price objective on shares of BrightView in a report on Monday, February 9th. Finally, Weiss Ratings cut BrightView from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, BrightView has an average rating of “Hold” and an average target price of $14.68.

Insider Activity

In related news, Director William L. Cornog purchased 5,000 shares of BrightView stock in a transaction that occurred on Friday, February 6th. The shares were acquired at an average price of $13.46 per share, with a total value of $67,300.00. Following the completion of the transaction, the director directly owned 5,000 shares of the company’s stock, valued at $67,300. This represents a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.80% of the company’s stock.

Institutional Trading of BrightView

A number of institutional investors have recently modified their holdings of the stock. Creative Planning lifted its position in shares of BrightView by 3.9% during the 2nd quarter. Creative Planning now owns 22,841 shares of the company’s stock valued at $380,000 after acquiring an additional 858 shares during the period. Swiss National Bank raised its stake in BrightView by 1.3% in the fourth quarter. Swiss National Bank now owns 140,400 shares of the company’s stock valued at $1,779,000 after purchasing an additional 1,800 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in BrightView by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 32,709 shares of the company’s stock worth $545,000 after purchasing an additional 1,937 shares during the period. BNP Paribas Financial Markets grew its stake in BrightView by 66.8% during the second quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock worth $93,000 after buying an additional 2,240 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in BrightView by 7.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,443 shares of the company’s stock valued at $455,000 after buying an additional 2,349 shares during the period. 92.41% of the stock is currently owned by institutional investors.

BrightView Company Profile

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.