BrightView (NYSE:BV) Announces Earnings Results, Misses Expectations By $0.12 EPS

BrightView (NYSE:BV) announced its earnings results on Tuesday. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.12), FiscalAI reports. The business had revenue of $717.60 million for the quarter, compared to analyst estimates of $726.13 million. BrightView had a return on equity of 7.25% and a net margin of 1.70%.The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

BrightView Stock Down 18.7%

BrightView stock traded down $2.46 during mid-day trading on Wednesday, reaching $10.66. The stock had a trading volume of 2,835,515 shares, compared to its average volume of 674,795. The company has a market capitalization of $993.51 million, a price-to-earnings ratio of -152.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.23 and a quick ratio of 1.23. BrightView has a one year low of $10.61 and a one year high of $16.39. The company has a 50-day moving average price of $13.54 and a two-hundred day moving average price of $12.98.

Wall Street Analysts Forecast Growth

BV has been the subject of several research analyst reports. BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of BrightView in a research report on Monday, May 11th. Oppenheimer began coverage on shares of BrightView in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $17.00 price target on the stock. JPMorgan Chase & Co. upgraded BrightView from an “underweight” rating to a “neutral” rating and raised their target price for the company from $13.00 to $14.00 in a research note on Thursday, May 7th. Robert W. Baird set a $14.00 price objective on shares of BrightView in a report on Wednesday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of BrightView in a research note on Friday. One investment 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 given a Sell rating to the stock. Based on data from MarketBeat, BrightView currently has a consensus rating of “Hold” and an average target price of $14.35.

Hedge Funds Weigh In On BrightView

Several large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in shares of BrightView by 66.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company’s stock worth $93,000 after purchasing an additional 2,240 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of BrightView by 225.8% during the second quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company’s stock valued at $94,000 after buying an additional 3,909 shares during the last quarter. Glenmede Investment Management LP purchased a new position in BrightView during the 3rd quarter valued at $139,000. Man Group plc purchased a new position in BrightView in the 2nd quarter worth about $185,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of BrightView in the 3rd quarter worth $163,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

BrightView Company Profile

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.