Bristow Group Inc Gets a Hold Rating from Credit Suisse

By Jason Carr

Credit Suisse analyst Gregory Lewis reiterated a Hold rating on Bristow Group Inc (NYSE: BRS) on May 24 and set a price target of $10. The company’s shares closed last Friday at $7.36, close to its 52-week low of $7.16.

Lewis observed:

“We remain cautious on BRS and lower our TP to $10 (from $16) which is 11x FY18 EBITDAR. We lower our FY18 EPS to -$2.86 (from -$1.25) versus consensus of a loss of a $1.00.”

According to TipRanks.com, Lewis is a 1-star analyst with an average return of -2.7% and a 41.6% success rate. Lewis covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP , Navios Maritime Midstream, and Nordic American Offshore.

Currently, the analyst consensus on Bristow Group Inc is Hold and the average price target is $10, representing a 35.9% upside.

In a report issued on May 26, Cowen & Co. also downgraded the stock to Hold with a $7 price target.

Based on Bristow Group Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $336 million and GAAP net loss of $78.04 million. In comparison, last year the company earned revenue of $382 million and had a GAAP net loss of $25.26 million.

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Bristow Group, Inc. engages in the provision of helicopter services to national and independent oil and gas companies. It also offers search-and-rescue services; aircraft support services such as helicopter maintenance, modification of repair; and helicopter pilot training. The company was founded in 1969 and is headquartered in Houston, TX.