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

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

Bristow Group Stock Performance

NYSE VTOL traded down $0.30 during trading 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 50 day moving average price of $41.41 and a 200 day moving average price of $39.07. Bristow Group has a 12 month low of $25.11 and a 12 month high of $47.40. The firm 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.

Institutional Investors Weigh In On Bristow Group

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

Analysts Set New Price Targets

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

Bristow Group Company Profile

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.