Bristow Group Inc (BRS) Bonds Trading 1.5% Lower
An issue of Bristow Group Inc (NYSE:BRS) debt fell 1.5% as a percentage of its face value during trading on Wednesday. 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 $80.50 and were trading at $80.50 one week ago. Price changes in a company’s debt in credit markets sometimes anticipate parallel changes in its stock price.
BRS has been the topic of a number of research reports. Zacks Investment Research upgraded Bristow Group from a “sell” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Wednesday, September 6th. Barclays PLC boosted their price objective on Bristow Group from $10.00 to $16.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 14th. Cowen and Company set a $7.00 price objective on Bristow Group and gave the company a “hold” rating in a research note on Friday, October 6th. BidaskClub upgraded Bristow Group from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, ValuEngine upgraded Bristow Group from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Bristow Group currently has an average rating of “Hold” and an average target price of $13.80.
Shares of Bristow Group Inc (BRS) traded up $0.14 on Wednesday, hitting $14.87. The stock had a trading volume of 484,034 shares, compared to its average volume of 873,109. Bristow Group Inc has a 12-month low of $6.21 and a 12-month high of $21.88. The company has a current ratio of 1.34, a quick ratio of 1.02 and a debt-to-equity ratio of 0.97.
Bristow Group (NYSE:BRS) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.95) by $0.62. Bristow Group had a negative return on equity of 7.08% and a negative net margin of 13.31%. The firm had revenue of $358.00 million for the quarter, compared to analysts’ expectations of $345.87 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The company’s revenue was up 4.2% on a year-over-year basis. sell-side analysts predict that Bristow Group Inc will post -3.43 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the company. ING Groep NV increased its position in shares of Bristow Group by 100.0% during the second quarter. ING Groep NV now owns 320,000 shares of the oil and gas company’s stock valued at $2,448,000 after buying an additional 160,000 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Bristow Group by 14.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 483,993 shares of the oil and gas company’s stock worth $7,362,000 after purchasing an additional 61,868 shares in the last quarter. South Dakota Investment Council grew its holdings in shares of Bristow Group by 93.3% during the second quarter. South Dakota Investment Council now owns 459,936 shares of the oil and gas company’s stock worth $3,519,000 after purchasing an additional 222,000 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new position in shares of Bristow Group during the first quarter worth about $221,000. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Bristow Group by 14.3% during the second quarter. Goldman Sachs Group Inc. now owns 128,295 shares of the oil and gas company’s stock worth $981,000 after purchasing an additional 16,036 shares in the last quarter.
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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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