Barclays Maintains an 'Equalweight' on Bristow Group (BRS); Continued Focus on Capital Allocation
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Price: $0.29 --0%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Equalweight' on Bristow Group (NYSE: BRS) price target lowered $4 to $50.00.
Barclays analyst says, "We continue to believe Bristow will capitalize on the
expansion in offshore and particularly deepwater spending which will occur over the next decade. The ongoing new rig construction cycle and an unfolding recovery in the U.S. Gulf of Mexico also provide increased intermediate and long-term earnings visibility. We expect a rebound in earnings in the back half of FY2012 and a further acceleration in activity in FY2013. In addition we believe the company's renewed focus on shareholder returns through a dividend and repurchase program is a positive."
"We are reducing our FY2012-2014 EPS estimates to $3.20, $4.60, and $5.35 (from $3.80, $4.80, and $5.85)..."
For an analyst ratings summary and ratings history on Bristow Group click here. For more ratings news on Bristow Group click here.
Shares of Bristow Group closed at $48.22 yesterday.
Barclays analyst says, "We continue to believe Bristow will capitalize on the
expansion in offshore and particularly deepwater spending which will occur over the next decade. The ongoing new rig construction cycle and an unfolding recovery in the U.S. Gulf of Mexico also provide increased intermediate and long-term earnings visibility. We expect a rebound in earnings in the back half of FY2012 and a further acceleration in activity in FY2013. In addition we believe the company's renewed focus on shareholder returns through a dividend and repurchase program is a positive."
"We are reducing our FY2012-2014 EPS estimates to $3.20, $4.60, and $5.35 (from $3.80, $4.80, and $5.85)..."
For an analyst ratings summary and ratings history on Bristow Group click here. For more ratings news on Bristow Group click here.
Shares of Bristow Group closed at $48.22 yesterday.
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