BrightView (NYSE:BV) Releases Earnings Results, Misses Estimates By $0.12 EPS

BrightView (NYSE:BV) issued its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12), FiscalAI reports. BrightView had a return on equity of 7.25% and a net margin of 1.70%.The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $726.13 million.

BrightView Trading Down 3.0%

Shares of BV stock traded down $0.40 during mid-day trading on Tuesday, hitting $13.09. 1,665,415 shares of the company’s stock were exchanged, compared to its average volume of 660,998. BrightView has a fifty-two week low of $11.06 and a fifty-two week high of $16.39. The stock has a 50-day simple moving average of $13.53 and a two-hundred day simple moving average of $12.98. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of -186.99 and a beta of 1.18.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BV shares. Weiss Ratings reissued a “sell (d+)” rating on shares of BrightView in a research report on Friday. Oppenheimer initiated coverage on BrightView in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $17.00 price objective on the stock. Zacks Research lowered BrightView from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of BrightView in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. raised shares of BrightView from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.52.

Hedge Funds Weigh In On BrightView

Several large investors have recently added to or reduced their stakes in BV. BNP Paribas Financial Markets boosted its stake in BrightView by 66.8% in the 2nd 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 during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of BrightView by 225.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock valued at $94,000 after acquiring an additional 3,909 shares during the last quarter. Glenmede Investment Management LP purchased a new position in shares of BrightView during the 3rd quarter worth about $139,000. Man Group plc purchased a new position in shares of BrightView during the 2nd quarter worth about $185,000. Finally, Landscape Capital Management L.L.C. purchased a new position in shares of BrightView during the 3rd quarter worth about $163,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

About BrightView

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.