BrightView (NYSE:BV) Reaches New 52-Week Low After Earnings Miss

BrightView Holdings, Inc. (NYSE:BVGet Free Report)’s stock price hit a new 52-week low on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $10.80 and last traded at $11.01, with a volume of 1190380 shares. The stock had previously closed at $13.12.

The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $726.13 million. BrightView had a return on equity of 7.25% and a net margin of 1.70%.The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 earnings per share.

Analyst Ratings Changes

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

View Our Latest Research Report on BV

Hedge Funds Weigh In On BrightView

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in BrightView by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 13,138 shares of the company’s stock worth $166,000 after purchasing an additional 848 shares in the last quarter. Creative Planning lifted its holdings in shares of BrightView by 3.9% in the second quarter. Creative Planning now owns 22,841 shares of the company’s stock valued at $380,000 after purchasing an additional 858 shares in the last quarter. Redmond Asset Management LLC lifted its holdings in shares of BrightView by 0.7% in the fourth quarter. Redmond Asset Management LLC now owns 173,716 shares of the company’s stock valued at $2,201,000 after purchasing an additional 1,238 shares in the last quarter. Swiss National Bank boosted its position in shares of BrightView by 1.3% during the fourth quarter. Swiss National Bank now owns 140,400 shares of the company’s stock worth $1,779,000 after buying an additional 1,800 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of BrightView by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 32,709 shares of the company’s stock worth $545,000 after buying an additional 1,937 shares in the last quarter. 92.41% of the stock is owned by institutional investors and hedge funds.

BrightView Stock Performance

The stock has a fifty day moving average of $13.54 and a 200-day moving average of $12.98. The firm has a market capitalization of $1.04 billion, a P/E ratio of -159.00 and a beta of 1.18. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66.

About BrightView

(Get Free Report)

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.

Further Reading

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