BrightView (NYSE:BV) Issues Quarterly Earnings Results

BrightView (NYSE:BV) released its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.32, Briefing.com reports. BrightView had a net margin of 2.06% and a return on equity of 6.27%. The firm had revenue of $738.80 million during the quarter, compared to the consensus estimate of $736.94 million. During the same quarter last year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. BrightView updated its FY 2024 guidance to EPS.

BrightView Stock Performance

Shares of NYSE:BV traded down $1.13 during midday trading on Friday, reaching $14.30. The company had a trading volume of 829,412 shares, compared to its average volume of 595,210. The stock has a market cap of $1.35 billion, a P/E ratio of 71.50 and a beta of 1.29. The company’s 50 day moving average price is $13.57 and its 200 day moving average price is $11.61. The company has a current ratio of 1.45, a quick ratio of 1.67 and a debt-to-equity ratio of 0.64. BrightView has a 52-week low of $6.58 and a 52-week high of $15.68.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BV shares. Baird R W upgraded shares of BrightView from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of BrightView from $11.00 to $14.00 and gave the company an “underweight” rating in a report on Friday. Loop Capital upgraded BrightView to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group boosted their price objective on BrightView from $10.00 to $11.30 and gave the company a “sell” rating in a research note on Friday. Finally, Robert W. Baird upgraded BrightView from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $13.00 to $17.00 in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, BrightView has a consensus rating of “Moderate Buy” and a consensus target price of $14.05.

Insiders Place Their Bets

In other BrightView news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $12.48, for a total value of $218,400,000.00. Following the sale, the insider now directly owns 33,133,123 shares in the company, valued at $413,501,375.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.

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.