BrightView Holdings has approved a US$9.0 million cash dividend on its Series A preferred stock for the June to September period, a decision that has renewed attention on the company's capital structure. The move comes as the company's share price has fallen 20.46% over the past 90 days and 15.48% year to date, while its one year total shareholder return is down 20.34%, though the three year total shareholder return remains positive at 37.24%. BrightView closed at $10.65, slightly above the most followed fair value estimate of $10.00, which uses a 7.9% discount rate and implies the stock is about 6.5% overvalued. The consensus price target stands at $16.05, with a bearish target of $10.0, and the stock trades at a price to sales ratio of 0.4x against 1.3x for the wider US Commercial Services group and 2.0x for peers. The company continues to report a loss, leaving investors to weigh whether the market is being too harsh or appropriately wary of its risk profile.
BrightView HoldingsBoard approved a $9.0M cash dividend on its Series A preferred stock, a capital-structure event, while the article notes the stock is overvalued versus fair value and consensus targets.
Harbin Electric