Bristow Group (NYSE:VTOL) Issues Earnings Results

Bristow Group (NYSE:VTOL) released its quarterly earnings results on Wednesday. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.15, FiscalAI reports. The firm had revenue of $377.26 million for the quarter, compared to analysts’ expectations of $380.33 million. Bristow Group had a return on equity of 13.12% and a net margin of 8.66%.

Bristow Group Trading Down 1.6%

Shares of NYSE VTOL traded down $0.76 during mid-day trading on Friday, hitting $47.25. The stock had a trading volume of 110,951 shares, compared to its average volume of 198,457. The business has a 50 day moving average price of $41.85 and a two-hundred day moving average price of $39.18. Bristow Group has a 1 year low of $25.11 and a 1 year high of $49.55. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.53 and a current ratio of 1.91. The firm has a market cap of $1.37 billion, a P/E ratio of 10.93 and a beta of 1.38.

Bristow Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 13th will be issued a $0.125 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.1%.

Hedge Funds Weigh In On Bristow Group

A number of hedge funds have recently modified their holdings of the company. State of Tennessee Department of Treasury grew its stake in shares of Bristow Group by 30.3% in the fourth quarter. State of Tennessee Department of Treasury now owns 17,178 shares of the company’s stock worth $629,000 after purchasing an additional 3,990 shares during the last quarter. Empowered Funds LLC grew its position in shares of Bristow Group by 4.0% in the 4th quarter. Empowered Funds LLC now owns 139,922 shares of the company’s stock worth $5,124,000 after buying an additional 5,433 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Bristow Group during the fourth quarter valued at approximately $800,000. VARCOV Co. bought a new position in shares of Bristow Group during the fourth quarter valued at approximately $291,000. Finally, Wellington Management Group LLP raised its holdings in shares of Bristow Group by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 755,388 shares of the company’s stock valued at $27,662,000 after acquiring an additional 22,680 shares in the last quarter. Hedge funds and other institutional investors own 93.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on VTOL shares. JonesTrading began coverage on shares of Bristow Group in a research report on Friday, January 23rd. They set a “buy” rating for the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of Bristow Group in a research report on Wednesday, January 21st. Raymond James Financial assumed coverage on Bristow Group in a research report on Tuesday, February 17th. They set an “outperform” rating and a $60.00 price target on the stock. Finally, Zacks Research raised Bristow Group to a “hold” rating in a research note on Thursday, February 19th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.