An issue of Bristow Group Inc (NYSE:BRS) debt fell 4% as a percentage of its face value during trading on Friday. The debt issue has a 6.25% coupon and will mature on October 15, 2022. The bonds in the issue are now trading at $67.50 and were trading at $74.25 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

BRS has been the subject of several research reports. Zacks Investment Research upgraded shares of Bristow Group from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, April 17th. ValuEngine upgraded shares of Bristow Group from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Finally, Credit Suisse Group cut their price target on shares of Bristow Group from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $13.25.

Shares of Bristow Group traded up $0.42, hitting $11.72, during midday trading on Friday, Marketbeat reports. 549,318 shares of the stock traded hands, compared to its average volume of 698,301. The company has a market cap of $404.15 million, a price-to-earnings ratio of -5.50 and a beta of 2.96. The company has a current ratio of 2.32, a quick ratio of 1.94 and a debt-to-equity ratio of 1.25. Bristow Group Inc has a one year low of $6.86 and a one year high of $18.91.

Bristow Group (NYSE:BRS) last released its quarterly earnings results on Thursday, August 2nd. The oil and gas company reported ($0.82) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.18). Bristow Group had a negative return on equity of 6.36% and a negative net margin of 11.80%. The company had revenue of $367.90 million during the quarter, compared to the consensus estimate of $348.80 million. During the same period in the previous year, the company earned ($0.83) earnings per share. Bristow Group’s quarterly revenue was up 4.5% on a year-over-year basis. research analysts forecast that Bristow Group Inc will post -2.8 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in BRS. BlackRock Inc. increased its stake in shares of Bristow Group by 6.8% during the second quarter. BlackRock Inc. now owns 4,401,608 shares of the oil and gas company’s stock valued at $62,108,000 after purchasing an additional 279,167 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Bristow Group by 10.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,798,368 shares of the oil and gas company’s stock worth $39,485,000 after acquiring an additional 258,226 shares in the last quarter. FMR LLC grew its position in Bristow Group by 266.4% in the second quarter. FMR LLC now owns 2,234,186 shares of the oil and gas company’s stock worth $31,524,000 after acquiring an additional 1,624,488 shares in the last quarter. Carmignac Gestion grew its position in Bristow Group by 9.5% in the first quarter. Carmignac Gestion now owns 1,150,000 shares of the oil and gas company’s stock worth $14,950,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Bristow Group by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 728,413 shares of the oil and gas company’s stock worth $10,278,000 after acquiring an additional 38,906 shares in the last quarter.

About Bristow Group

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 charter 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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