BrightView (NYSE:BV) Releases Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• BrightView reported $0.30 earnings per share for the quarter, missing analysts' estimates of $0.32, with revenues of $708.30 million falling short of expectations of $763.43 million.
• The company's revenue decreased by 4.1% year-over-year, while it had a return on equity of 8.78% and a net margin of 2.00%.
• Analysts have mixed ratings on BrightView's stock, with a consensus rating of "Moderate Buy" and an average price target of $17.82.

BrightView (NYSE:BV - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.02), Briefing.com reports. BrightView had a return on equity of 8.76% and a net margin of 2.00%. The company had revenue of $708.30 million during the quarter, compared to analyst estimates of $763.43 million. During the same quarter in the prior year, the business earned $0.32 earnings per share. The business's revenue for the quarter was down 4.1% on a year-over-year basis.

BrightView Price Performance

NYSE:BV traded down $0.01 on Tuesday, reaching $14.99. The stock had a trading volume of 22,769 shares, compared to its average volume of 735,144. The company has a market capitalization of $1.42 billion, a P/E ratio of 500.00 and a beta of 1.26. BrightView has a 1-year low of $11.81 and a 1-year high of $18.89. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $15.85 and a 200-day moving average price of $14.74.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BV. Wall Street Zen lowered shares of BrightView from a "buy" rating to a "hold" rating in a research report on Saturday. Loop Capital decreased their target price on shares of BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Finally, Robert W. Baird decreased their target price on shares of BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.82.

Insider Buying and Selling

In other BrightView news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $14.40, for a total value of $167,040,000.00. Following the transaction, the insider directly owned 21,533,123 shares in the company, valued at $310,076,971.20. The trade was a 35.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BrightView

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of BrightView by 11.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,658,306 shares of the company's stock worth $21,293,000 after purchasing an additional 167,966 shares in the last quarter. Millennium Management LLC lifted its position in shares of BrightView by 54.2% during the first quarter. Millennium Management LLC now owns 1,456,682 shares of the company's stock worth $18,704,000 after purchasing an additional 512,098 shares in the last quarter. Royal Bank of Canada lifted its position in shares of BrightView by 4.7% during the first quarter. Royal Bank of Canada now owns 699,959 shares of the company's stock worth $8,988,000 after purchasing an additional 31,291 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of BrightView by 75.9% during the first quarter. AQR Capital Management LLC now owns 209,995 shares of the company's stock worth $2,696,000 after purchasing an additional 90,627 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of BrightView by 20.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,074 shares of the company's stock worth $2,197,000 after purchasing an additional 28,491 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

BrightView Company Profile

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.