Bristow Group (NYSE:VTOL) Posts Earnings Results, Misses Expectations By $0.26 EPS

Bristow Group (NYSE:VTOL) posted its quarterly earnings results on Wednesday. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.26), FiscalAI reports. The firm had revenue of $377.26 million for the quarter, compared to analyst estimates of $380.33 million. Bristow Group had a return on equity of 14.83% and a net margin of 9.71%.

Bristow Group Trading Down 0.6%

NYSE VTOL traded down $0.30 during trading hours on Wednesday, reaching $46.55. The company’s stock had a trading volume of 149,124 shares, compared to its average volume of 195,818. The firm has a fifty day simple moving average of $41.41 and a 200-day simple moving average of $39.07. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.91 and a quick ratio of 1.53. Bristow Group has a 52 week low of $25.11 and a 52 week high of $47.40. The stock has a market cap of $1.35 billion, a P/E ratio of 9.74 and a beta of 1.38.

Hedge Funds Weigh In On Bristow Group

A number of hedge funds have recently modified their holdings of VTOL. Boston Partners acquired a new position in shares of Bristow Group during the fourth quarter valued at about $13,486,000. Arrowstreet Capital Limited Partnership lifted its position in Bristow Group by 176.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 210,768 shares of the company’s stock valued at $7,605,000 after acquiring an additional 134,616 shares in the last quarter. First Trust Advisors LP acquired a new position in Bristow Group during the 4th quarter valued at about $4,012,000. Algert Global LLC increased its holdings in Bristow Group by 204.9% during the 3rd quarter. Algert Global LLC now owns 158,498 shares of the company’s stock worth $5,719,000 after purchasing an additional 106,514 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Bristow Group by 87.5% in the second quarter. JPMorgan Chase & Co. now owns 219,865 shares of the company’s stock worth $7,249,000 after purchasing an additional 102,611 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

Wall Street Analyst Weigh In

VTOL has been the topic of a number of research analyst reports. JonesTrading assumed coverage on Bristow Group in a report on Friday, January 23rd. They issued a “buy” rating on the stock. Zacks Research upgraded Bristow Group to a “hold” rating in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Finally, Raymond James Financial started coverage on Bristow Group in a research note on Tuesday, February 17th. They set an “outperform” rating and a $60.00 target price for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Bristow Group presently 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.