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

BrightView (NYSE:BV) released its quarterly earnings data on Tuesday. The company reported $0.17 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 business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $726.13 million.

BrightView Price Performance

Shares of BV stock traded down $0.40 on Tuesday, reaching $13.09. The company’s stock had a trading volume of 1,630,506 shares, compared to its average volume of 659,891. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66. BrightView has a 12-month low of $11.06 and a 12-month high of $16.39. The company has a market capitalization of $1.22 billion, a P/E ratio of -186.99 and a beta of 1.18. The stock’s 50 day simple moving average is $13.53 and its 200-day simple moving average is $12.98.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On BrightView

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BV. BNP Paribas Financial Markets boosted its position in shares of BrightView by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock valued at $93,000 after acquiring an additional 2,240 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of BrightView by 225.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock worth $94,000 after purchasing an additional 3,909 shares during the last quarter. Glenmede Investment Management LP bought a new position in shares of BrightView in the third quarter worth approximately $139,000. Landscape Capital Management L.L.C. purchased a new position in BrightView in the 3rd quarter worth approximately $163,000. Finally, Entropy Technologies LP purchased a new position in BrightView in the 3rd quarter worth approximately $185,000. 92.41% of the stock is currently owned by hedge funds and other 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.