Bristow Group (NYSE:VTOL) Issues Earnings Results, Misses Expectations By $0.19 EPS

Bristow Group (NYSE:VTOL) released its quarterly earnings data on Tuesday. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.19), FiscalAI reports. The business had revenue of $411.75 million for the quarter, compared to analysts’ expectations of $407.28 million. Bristow Group had a net margin of 7.51% and a return on equity of 11.10%.

Bristow Group Price Performance

Shares of VTOL traded up $2.18 during midday trading on Tuesday, hitting $47.85. 253,317 shares of the company traded hands, compared to its average volume of 218,753. Bristow Group has a one year low of $33.72 and a one year high of $50.38. The firm has a market cap of $1.42 billion, a P/E ratio of 12.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.15 and a quick ratio of 1.79. The stock has a 50-day moving average of $43.10 and a 200-day moving average of $44.48.

Bristow Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.125 per share. The ex-dividend date is Friday, August 14th. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. Bristow Group’s dividend payout ratio is currently 13.02%.

Analysts Set New Price Targets

VTOL has been the topic of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Bristow Group in a research report on Friday, May 29th. Zacks Research upgraded shares of Bristow Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Wall Street Zen cut shares of Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Hedge Funds Weigh In On Bristow Group

Several hedge funds have recently bought and sold shares of VTOL. AQR Capital Management LLC bought a new position in shares of Bristow Group in the first quarter worth $1,119,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Bristow Group by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,592 shares of the company’s stock worth $461,000 after buying an additional 609 shares in the last quarter. Jane Street Group LLC increased its stake in Bristow Group by 178.7% in the 1st quarter. Jane Street Group LLC now owns 53,526 shares of the company’s stock worth $1,690,000 after acquiring an additional 34,317 shares during the last quarter. Strs Ohio purchased a new stake in shares of Bristow Group in the 1st quarter valued at about $44,000. Finally, Creative Planning purchased a new stake in shares of Bristow Group in the 2nd quarter valued at about $236,000. Hedge funds and other institutional investors own 93.29% of the company’s stock.

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.