BrightView (NYSE:BV) Hits New 12-Month Low After Earnings Miss

Key Points

• BrightView shares fell to a new 52-week low of $10.80 after the company reported quarterly EPS of $0.17, well below the $0.29 analyst consensus. Revenue reached $717.6 million, also missing estimates, though it increased 1.3% year over year.
• Analyst sentiment is mixed, with ratings ranging from strong sell to strong buy. The stock carries an average “Hold” rating and a consensus price target of $14.52.
• Institutional investors and hedge funds own 92.41% of BrightView’s shares. The company reported a 0.66 debt-to-equity ratio, a 1.23 current ratio and a market capitalization of approximately $1.04 billion.

BrightView Holdings, Inc. (NYSE:BV - Get Free Report) shares reached a new 52-week low during mid-day trading 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 traded. The stock had previously closed at $13.12.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research lowered shares of BrightView from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a "sell (d+)" rating on shares of BrightView in a report on Friday. Oppenheimer started coverage on 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 shares of BrightView from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $13.00 to $14.00 in a research report on Thursday, May 7th. Finally, BTIG Research reaffirmed a "buy" rating and set a $16.00 price objective on shares of BrightView in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, BrightView currently has an average rating of "Hold" and a consensus price target of $14.52.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of BrightView by 6.9% during the fourth quarter. ProShare Advisors LLC now owns 13,138 shares of the company's stock worth $166,000 after acquiring an additional 848 shares during the last quarter. Creative Planning lifted its position in BrightView by 3.9% during the 2nd quarter. Creative Planning now owns 22,841 shares of the company's stock valued at $380,000 after purchasing an additional 858 shares during the period. Redmond Asset Management LLC boosted its stake in shares of BrightView by 0.7% in the 4th 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 during the last quarter. Swiss National Bank boosted its stake in shares of BrightView by 1.3% in the 4th quarter. Swiss National Bank now owns 140,400 shares of the company's stock valued at $1,779,000 after purchasing an additional 1,800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of BrightView by 6.3% during the 2nd 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 during the period. Institutional investors and hedge funds own 92.41% of the company's stock.

BrightView Stock Performance

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -159.00 and a beta of 1.18. The firm's 50-day moving average price is $13.54 and its 200 day moving average price is $12.98.

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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