Bristow Group (BRS) Debt Trading 1.3% Lower

An issue of Bristow Group Inc (NYSE:BRS) debt fell 1.3% as a percentage of its face value during trading on Friday. The debt issue has a 8.75% coupon and will mature on March 1, 2023. The bonds in the issue are now trading at $74.00 and were trading at $77.75 last week. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.

BRS has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Bristow Group from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Zacks Investment Research downgraded shares of Bristow Group from a “hold” rating to a “sell” rating in a report on Monday, February 18th.

BRS traded up $0.04 during trading on Friday, hitting $1.13. 4,275,600 shares of the company’s stock were exchanged, compared to its average volume of 2,300,363. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 1.43. Bristow Group Inc has a 1 year low of $0.96 and a 1 year high of $18.91. The company has a market cap of $36.51 million, a P/E ratio of -0.53 and a beta of 2.73.

Bristow Group (NYSE:BRS) last released its quarterly earnings data on Monday, February 11th. The oil and gas company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.02. Bristow Group had a negative net margin of 25.79% and a negative return on equity of 8.62%. The company had revenue of $331.33 million during the quarter, compared to the consensus estimate of $352.70 million. During the same period in the previous year, the firm earned ($0.52) earnings per share. Research analysts anticipate that Bristow Group Inc will post -5.43 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRS. Mackenzie Financial Corp grew its stake in Bristow Group by 129.6% during the fourth quarter. Mackenzie Financial Corp now owns 6,561,746 shares of the oil and gas company’s stock worth $15,945,000 after buying an additional 3,703,375 shares during the period. Coltrane Asset Management L.P. acquired a new position in shares of Bristow Group during the fourth quarter worth $8,463,000. FMR LLC lifted its position in shares of Bristow Group by 51.9% during the third quarter. FMR LLC now owns 3,393,186 shares of the oil and gas company’s stock worth $41,160,000 after purchasing an additional 1,159,000 shares in the last quarter. BlackRock Inc. lifted its position in shares of Bristow Group by 14.4% during the third quarter. BlackRock Inc. now owns 5,035,060 shares of the oil and gas company’s stock worth $61,075,000 after purchasing an additional 633,452 shares in the last quarter. Finally, First Manhattan Co. lifted its position in shares of Bristow Group by 5,386.4% during the fourth quarter. First Manhattan Co. now owns 485,550 shares of the oil and gas company’s stock worth $1,179,000 after purchasing an additional 476,700 shares in the last quarter.

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Bristow Group Company Profile (NYSE:BRS)

Bristow Group, Inc engages in the provision of industrial aviation services. It operates through the following geographical segments: Europe Caspian, Africa, America, and Asia Pacific. Its services include helicopter search and rescue, helicopter sales, aircraft maintenance and modifications, transport of personnel for oil and gas company, engineering training, and unmanned aerial vehicle inspection.

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