BrightView (NYSE:BV) Sets New 52-Week High After Strong Earnings

BrightView Holdings, Inc. (NYSE:BV) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $12.91 and last traded at $12.39, with a volume of 283499 shares. The stock had previously closed at $11.27.

The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. BrightView had a return on equity of 5.84% and a net margin of 1.80%. The firm had revenue of $672.90 million for the quarter, compared to analyst estimates of $683.80 million. During the same period last year, the company earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BV. Jefferies Financial Group reissued a “hold” rating and set a $9.00 target price on shares of BrightView in a research note on Monday, March 4th. Robert W. Baird boosted their price objective on BrightView from $8.50 to $13.00 and gave the stock a “neutral” rating in a research report on Thursday. Craig Hallum assumed coverage on BrightView in a research report on Monday, March 4th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “sell” rating and set a $10.00 price target (up previously from $8.00) on shares of BrightView in a research report on Thursday, April 4th.

Hedge Funds Weigh In On BrightView

Several hedge funds have recently modified their holdings of BV. Sonora Investment Management Group LLC grew its stake in shares of BrightView by 6.1% in the 3rd quarter. Sonora Investment Management Group LLC now owns 34,941 shares of the company’s stock worth $271,000 after purchasing an additional 2,015 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of BrightView by 59.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,302 shares of the company’s stock worth $61,000 after acquiring an additional 2,726 shares in the last quarter. Jump Financial LLC grew its holdings in shares of BrightView by 13.0% in the 3rd quarter. Jump Financial LLC now owns 31,977 shares of the company’s stock worth $248,000 after acquiring an additional 3,677 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of BrightView by 17.1% during the fourth quarter. Mackenzie Financial Corp now owns 28,176 shares of the company’s stock worth $237,000 after purchasing an additional 4,124 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of BrightView by 24.5% during the fourth quarter. SG Americas Securities LLC now owns 23,463 shares of the company’s stock valued at $198,000 after purchasing an additional 4,624 shares during the last quarter. 92.41% of the stock is currently owned by institutional investors and hedge funds.

BrightView Price Performance

The stock has a 50-day moving average of $10.77 and a two-hundred day moving average of $8.94. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 63.30 and a beta of 1.22. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.73.

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.