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

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

Bristow Group Price Performance

NYSE:VTOL traded down $0.30 on Wednesday, hitting $46.55. The company had a trading volume of 149,595 shares, compared to its average volume of 195,818. The firm has a 50 day moving average of $41.41 and a two-hundred day moving average of $39.07. Bristow Group has a 52 week low of $25.11 and a 52 week high of $47.40. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 9.74 and a beta of 1.38. The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.63.

Analyst Ratings Changes

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

Institutional Trading of Bristow Group

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

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.