BrightView (NYSE:BV) Releases Quarterly Earnings Results, Hits Estimates

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

BrightView Trading Down 7.3 %

Shares of NYSE:BV traded down $1.13 during trading on Friday, hitting $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 price-to-earnings ratio of 71.50 and a beta of 1.29. BrightView has a one year low of $6.58 and a one year high of $15.68. The company has a fifty day simple moving average of $13.57 and a two-hundred day simple moving average of $11.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.45 and a quick ratio of 1.67.

Insider Activity

In other news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 33,133,123 shares of the company’s stock, valued at approximately $413,501,375.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

BV has been the subject of several research analyst reports. Baird R W raised BrightView from a “hold” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on BrightView from $10.00 to $11.30 and gave the stock a “sell” rating in a report on Friday. Loop Capital raised BrightView to a “strong-buy” rating in a report on Tuesday. Robert W. Baird raised BrightView from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $13.00 to $17.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on BrightView from $11.00 to $14.00 and gave the stock an “underweight” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, BrightView has a consensus rating of “Moderate Buy” and an average target price of $14.05.

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.