Bristow Group (NYSE:VTOL) Releases Earnings Results, Misses Expectations By $0.57 EPS

Bristow Group (NYSE:VTOL) issued its quarterly earnings results on Tuesday. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.57), FiscalAI reports. The business had revenue of $388.71 million for the quarter, compared to the consensus estimate of $383.68 million. Bristow Group had a net margin of 8.66% and a return on equity of 12.87%.

Bristow Group Price Performance

Shares of NYSE VTOL traded down $0.51 during trading hours on Tuesday, reaching $48.91. 250,357 shares of the stock traded hands, compared to its average volume of 234,268. The company has a market capitalization of $1.45 billion, a P/E ratio of 11.44 and a beta of 1.29. The company has a quick ratio of 1.54, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. Bristow Group has a 52-week low of $26.53 and a 52-week high of $50.38. The company’s 50-day simple moving average is $46.74 and its two-hundred day simple moving average is $42.11.

Bristow Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Bristow Group’s dividend payout ratio (DPR) is currently 11.57%.

Insider Activity at Bristow Group

In other Bristow Group news, COO Stuart Stavley sold 24,908 shares of Bristow Group stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $47.02, for a total value of $1,171,174.16. Following the transaction, the chief operating officer directly owned 85,790 shares of the company’s stock, valued at $4,033,845.80. The trade was a 22.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wesley E. Kern sold 3,079 shares of Bristow Group stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $46.83, for a total value of $144,189.57. Following the completion of the transaction, the director directly owned 32,000 shares in the company, valued at $1,498,560. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,104 shares of company stock worth $2,869,206 in the last quarter. 13.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bristow Group

Several institutional investors and hedge funds have recently bought and sold shares of VTOL. Raymond James Financial Inc. purchased a new position in shares of Bristow Group during the second quarter valued at approximately $25,000. Parkside Financial Bank & Trust lifted its stake in Bristow Group by 1,645.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock worth $41,000 after acquiring an additional 1,053 shares during the period. Strs Ohio purchased a new stake in Bristow Group in the first quarter worth $44,000. Tower Research Capital LLC TRC boosted its holdings in Bristow Group by 296.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,508 shares of the company’s stock valued at $83,000 after acquiring an additional 1,876 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Bristow Group in the second quarter valued at $90,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Wall Street Analyst Weigh In

VTOL has been the subject of a number of research analyst reports. Wall Street Zen upgraded Bristow Group from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. JonesTrading initiated coverage on Bristow Group in a research report on Friday, January 23rd. They set a “buy” rating for the company. Zacks Research upgraded Bristow Group to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bristow Group in a research report on Wednesday, January 21st. Finally, Raymond James Financial initiated coverage on Bristow Group in a research report on Tuesday, February 17th. They set an “outperform” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Bristow Group currently has an average rating of “Moderate Buy” and a consensus target price of $60.00.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.