BrightView (NYSE:BV) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• BrightView beat estimates: Q1 EPS of $0.09 topped the $0.08 consensus and revenue came in at $702.9M versus $638.8M expected.
• Shares traded up 1.1% to $11.75 on heavy volume, with a market cap of $1.11B; analysts are mixed but the consensus rating is "Hold" with a $14.68 target.
• An insider purchase — a director bought 5,000 shares at $13.46 — and ownership is heavily institutional (92.41%) while insiders hold 2.80%.

BrightView (NYSE:BV - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.01, FiscalAI reports. The business had revenue of $702.90 million during the quarter, compared to analysts' expectations of $638.80 million. BrightView had a net margin of 1.90% and a return on equity of 7.85%.

BrightView Stock Up 1.1%

NYSE BV traded up $0.13 during trading hours on Tuesday, hitting $11.75. 1,134,057 shares of the company traded hands, compared to its average volume of 565,756. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of -587.50 and a beta of 1.20. BrightView has a twelve month low of $11.06 and a twelve month high of $17.10. The business's 50-day moving average is $12.31 and its 200-day moving average is $12.67. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26.

Insider Activity

In related news, Director William L. Cornog acquired 5,000 shares of the business's stock in a transaction dated Friday, February 6th. The stock was bought at an average price of $13.46 per share, with a total value of $67,300.00. Following the acquisition, the director owned 5,000 shares in the company, valued at $67,300. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BrightView

Hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of BrightView by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company's stock worth $93,000 after acquiring an additional 2,240 shares during the period. Tower Research Capital LLC TRC lifted its holdings in BrightView by 225.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company's stock valued at $94,000 after purchasing an additional 3,909 shares during the last quarter. Glenmede Investment Management LP bought a new position in BrightView during the third quarter worth $139,000. Landscape Capital Management L.L.C. acquired a new position in shares of BrightView in the third quarter valued at $163,000. Finally, Entropy Technologies LP bought a new position in shares of BrightView in the third quarter valued at about $185,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on BV shares. Morgan Stanley boosted their target price on BrightView from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. lifted their price objective on BrightView from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Thursday, February 5th. The Goldman Sachs Group reiterated a "sell" rating and issued a $11.10 price objective on shares of BrightView in a research report on Monday, February 9th. Finally, Weiss Ratings cut BrightView from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, BrightView currently has a consensus rating of "Hold" and a consensus target price of $14.68.

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.

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