Barclays Adjusts Estimates and Price Target on Bristow Group (BRS); Positive on Dividend Increase and Possible Buyback, But Concerns Remain
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Price: $0.29 --0%
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
Rating Summary:
6 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 11 | New: 17
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Barclays maintains an 'Equalweight' on Bristow Group (NYSE: BRS) price target lowered from $53 to $52.
Analyst, Anthony Walker, said, "We continue to believe Bristow will capitalize on the unfolding expansion in offshore and particularly deepwater spending, which should continue over the next decade. The ongoing new rig construction cycle and an unfolding recovery in the Gulf of Mexico also provide increased long-term earnings visibility. We expect a rebound in earnings in FY2013 and an acceleration in activity in FY2014."
Walker did highlight the company's dividend increase and possible stock buyback announcement, but still sees conservative revs/margins, especially among it's international business.
Barclays lowers FY13 EPS estimate from $4.30 to $3.55 and FY14 from $5.15 to $3.90.
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 $41.13 yesterday.
Analyst, Anthony Walker, said, "We continue to believe Bristow will capitalize on the unfolding expansion in offshore and particularly deepwater spending, which should continue over the next decade. The ongoing new rig construction cycle and an unfolding recovery in the Gulf of Mexico also provide increased long-term earnings visibility. We expect a rebound in earnings in FY2013 and an acceleration in activity in FY2014."
Walker did highlight the company's dividend increase and possible stock buyback announcement, but still sees conservative revs/margins, especially among it's international business.
Barclays lowers FY13 EPS estimate from $4.30 to $3.55 and FY14 from $5.15 to $3.90.
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 $41.13 yesterday.
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