BrightView (NYSE:BV) Announces Earnings Results

Key Points

• BrightView missed quarterly expectations: It reported adjusted earnings of $0.17 per share versus the $0.29 consensus estimate, while revenue of $717.6 million came in below expectations of $726.13 million.
• Shares fell 3.0% to $13.09 following the results, with the company valued at approximately $1.22 billion. BrightView reported a 1.70% net margin, 7.25% return on equity and a 0.66 debt-to-equity ratio.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $14.52 price target; institutional investors and hedge funds own 92.41% of the company’s shares.

BrightView (NYSE:BV - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.12), FiscalAI reports. The business 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%.

BrightView Stock Down 3.0%

NYSE:BV traded down $0.40 on Tuesday, hitting $13.09. The stock had a trading volume of 1,630,506 shares, compared to its average volume of 659,891. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.66. BrightView has a 52 week low of $11.06 and a 52 week high of $16.39. The business's fifty day moving average is $13.53 and its 200 day moving average is $12.98. The company has a market cap of $1.22 billion, a PE ratio of -186.99 and a beta of 1.18.

Institutional Trading of BrightView

Several hedge funds have recently bought and sold shares of the business. Private Management Group Inc. purchased a new position in shares of BrightView during the 4th quarter valued at $7,468,000. Two Sigma Investments LP increased its holdings in BrightView by 1,964.7% in the 3rd quarter. Two Sigma Investments LP now owns 568,466 shares of the company's stock worth $7,617,000 after acquiring an additional 540,933 shares during the last quarter. Millennium Management LLC raised its stake in BrightView by 54.2% in the 1st quarter. Millennium Management LLC now owns 1,456,682 shares of the company's stock valued at $18,704,000 after acquiring an additional 512,098 shares during the period. Pillsbury Lake Capital LLC bought a new stake in BrightView in the 4th quarter valued at about $6,208,000. Finally, Palisade Capital Management LP purchased a new stake in BrightView during the second quarter valued at about $5,231,000. Institutional investors and hedge funds own 92.41% of the company's stock.

Analyst Upgrades and Downgrades

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

About BrightView

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.

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