BrightView (NYSE:BV) Sets New 1-Year High on Strong Earnings

BrightView Holdings, Inc. (NYSE:BV) shares hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $12.91 and last traded at $12.39, with a volume of 283499 shares traded. The stock had previously closed at $11.27.

The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. BrightView had a net margin of 1.80% and a return on equity of 5.84%. The business had revenue of $672.90 million for the quarter, compared to the consensus estimate of $683.80 million. During the same period in the prior year, the firm earned ($0.12) EPS. The business’s revenue for the quarter was up 3.5% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BV shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $9.00 price objective on shares of BrightView in a report on Monday, March 4th. Robert W. Baird lifted their price target on BrightView from $8.50 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. Craig Hallum began coverage on BrightView in a research report on Monday, March 4th. They set a “buy” rating and a $15.00 price target on the stock. Finally, The Goldman Sachs Group restated a “sell” rating and issued a $10.00 price objective (up from $8.00) on shares of BrightView in a research report on Thursday, April 4th.

Institutional Trading of BrightView

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Simplicity Wealth LLC acquired a new stake in shares of BrightView during the 1st quarter worth approximately $2,595,000. Rice Hall James & Associates LLC acquired a new stake in BrightView during the first quarter worth $2,240,000. Quadrature Capital Ltd purchased a new stake in BrightView in the fourth quarter valued at $573,000. Penn Capital Management Company LLC acquired a new position in shares of BrightView in the 4th quarter valued at $1,908,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of BrightView by 977.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,584 shares of the company’s stock worth $98,000 after purchasing an additional 10,509 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

BrightView Stock Up 1.0 %

The business has a 50-day moving average of $10.77 and a 200-day moving average of $8.94. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 63.30 and a beta of 1.22.

About BrightView

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.