Bristow Group (BRS) Bonds Trading 18.8% Lower

An issue of Bristow Group Inc (NYSE:BRS) bonds fell 18.8% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 8.75% coupon and will mature on March 1, 2023. The debt is now trading at $83.25 and was trading at $101.25 one week ago. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its stock price.

BRS has been the topic of several analyst reports. Credit Suisse Group increased their price target on shares of Bristow Group from $8.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Zacks Investment Research lowered shares of Bristow Group from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, ValuEngine lowered shares of Bristow Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, March 13th. Six equities research analysts have rated the stock with a hold rating, Bristow Group presently has a consensus rating of “Hold” and an average price target of $13.50.

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Shares of NYSE BRS traded up $0.23 during trading hours on Thursday, hitting $16.46. 780,999 shares of the stock were exchanged, compared to its average volume of 569,514. The company has a current ratio of 1.45, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The company has a market cap of $548.34, a P/E ratio of -7.73 and a beta of 3.00. Bristow Group Inc has a one year low of $6.21 and a one year high of $17.35.

Bristow Group (NYSE:BRS) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas company reported ($0.52) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.13. The business had revenue of $345.53 million during the quarter, compared to the consensus estimate of $354.10 million. Bristow Group had a negative net margin of 12.13% and a negative return on equity of 7.91%. Bristow Group’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.29) EPS. equities research analysts forecast that Bristow Group Inc will post -2.5 EPS for the current fiscal year.

In other news, insider L. Don Miller acquired 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average cost of $12.58 per share, with a total value of $25,160.00. Following the acquisition, the insider now owns 14,199 shares in the company, valued at $178,623.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Baliff acquired 3,900 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were purchased at an average cost of $12.97 per share, with a total value of $50,583.00. Following the completion of the acquisition, the chief executive officer now owns 73,244 shares in the company, valued at approximately $949,974.68. The disclosure for this purchase can be found here. 10.00% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BRS. JPMorgan Chase & Co. boosted its holdings in shares of Bristow Group by 17,519.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 456,341 shares of the oil and gas company’s stock worth $4,303,000 after buying an additional 453,751 shares during the period. Two Sigma Investments LP bought a new stake in shares of Bristow Group during the 4th quarter worth $1,960,000. Wolverine Asset Management LLC boosted its holdings in shares of Bristow Group by 1,537.2% during the 4th quarter. Wolverine Asset Management LLC now owns 149,100 shares of the oil and gas company’s stock worth $2,008,000 after buying an additional 139,993 shares during the period. Two Sigma Advisers LP bought a new stake in Bristow Group in the 4th quarter valued at $1,438,000. Finally, Acadian Asset Management LLC boosted its holdings in Bristow Group by 37.6% in the 4th quarter. Acadian Asset Management LLC now owns 292,400 shares of the oil and gas company’s stock valued at $3,938,000 after purchasing an additional 79,943 shares during the period.

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Bristow Group Company Profile

Bristow Group Inc provides industrial aviation services to the offshore energy companies in Europe Caspian, Africa, the Americas, and the Asia Pacific. The company offers helicopter transportation services to transport personnel between onshore bases and offshore production platforms, drilling rigs, and other installations, as well as to transport time-sensitive equipment to these offshore locations.

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