Bristow Group (NYSE:VTOL) Issues Quarterly Earnings Results

Bristow Group (NYSE:VTOL) posted its quarterly earnings results on Tuesday. The company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.22), FiscalAI reports. Bristow Group had a net margin of 6.66% and a return on equity of 9.82%. The business had revenue of $437.92 million for the quarter, compared to analysts’ expectations of $443.25 million.

Bristow Group Trading Down 1.1%

Shares of NYSE VTOL traded down $0.47 during midday trading on Tuesday, hitting $40.75. 267,418 shares of the company traded hands, compared to its average volume of 231,095. Bristow Group has a 12-month low of $35.03 and a 12-month high of $50.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.85 and a current ratio of 2.26. The stock has a 50-day moving average price of $41.80 and a 200 day moving average price of $43.97. The firm has a market cap of $1.21 billion, a P/E ratio of 11.74 and a beta of 1.23.

Bristow Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be given a dividend of $0.1250 per share. The ex-dividend date is Friday, November 13th. This represents a $0.50 annualized dividend and a dividend yield of 1.2%. Bristow Group’s payout ratio is currently 14.41%.

Insider Buying and Selling

In other Bristow Group news, insider Alternative Asset Manage Solus sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $45.85, for a total value of $687,750.00. Following the completion of the sale, the insider directly owned 2,861,796 shares in the company, valued at $131,213,346.60. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lorin Brass sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $42.42, for a total transaction of $127,260.00. Following the completion of the sale, the director owned 14,223 shares of the company’s stock, valued at $603,339.66. This trade represents a 17.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,858 shares of company stock valued at $2,431,989 over the last three months. Corporate insiders own 12.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Bristow Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 16th. Zacks Research upgraded shares of Bristow Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.00.

About Bristow Group

Bristow Group Inc (NYSE: VTOL) is a provider of aviation services, specializing in helicopter transportation and support for the offshore energy industry, government agencies and other commercial customers. The company operates helicopters and fixed-wing aircraft to transport personnel and equipment, support offshore installations and provide specialized aviation services.

Bristow’s government services include search-and-rescue operations, emergency response and aviation support conducted under long-term contracts.