Bristow Group (NYSE:VTOL) Issues Quarterly Earnings Results

Key Points

• Earnings miss: Bristow reported Q results with EPS of $0.44 vs. a $1.01 consensus (a $0.57 miss) although revenue came in slightly higher at $388.7M; net margin was 8.66% and ROE 12.87%.
• Dividend declared: The company announced a quarterly dividend of $0.125 per share (annualized $0.50) with a 1.0% yield and an ex-dividend date of May 15.
• Insider selling and analyst view: Insiders sold 61,104 shares (~$2.87M) recently, while analysts rate the stock a "Moderate Buy" with a $60 consensus target; the shares trade at a P/E of 11.32 and a $1.45B market cap.

Bristow Group (NYSE:VTOL - Get Free Report) posted its earnings results on Tuesday. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.57), FiscalAI reports. The business had revenue of $388.71 million for the quarter, compared to analysts' expectations of $383.68 million. Bristow Group had a net margin of 8.66% and a return on equity of 12.87%.

Bristow Group Price Performance

Bristow Group stock opened at $48.91 on Wednesday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 11.32 and a beta of 1.29. Bristow Group has a 12-month low of $26.53 and a 12-month high of $50.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.54. The firm's 50-day moving average is $46.79 and its two-hundred day moving average is $42.19.

Bristow Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, May 15th. Bristow Group's dividend payout ratio (DPR) is currently 11.57%.

Analyst Ratings Changes

Several research firms have recently commented on VTOL. 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 Bristow Group in a research report on Tuesday, February 17th. They set an "outperform" rating and a $60.00 price objective for the company. Zacks Research raised Bristow Group to a "hold" rating in a research note on Thursday, February 19th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Bristow Group in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Bristow Group from a "hold" rating to a "buy" rating in a research report on Sunday, March 8th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Insiders Place Their Bets

In related news, COO Stuart Stavley sold 24,908 shares of the firm's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $47.02, for a total transaction of $1,171,174.16. Following the sale, the chief operating officer owned 85,790 shares in the company, valued at approximately $4,033,845.80. This trade represents a 22.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lorin L. Brass sold 3,250 shares of Bristow Group stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $49.04, for a total transaction of $159,380.00. Following the completion of the sale, the director directly owned 18,455 shares of the company's stock, valued at $905,033.20. The trade was a 14.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 61,104 shares of company stock valued at $2,869,206. 13.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bristow Group

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Bristow Group by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,707,518 shares of the company's stock valued at $62,529,000 after purchasing an additional 29,192 shares during the period. Taconic Capital Advisors LP lifted its position in Bristow Group by 6.4% during the second quarter. Taconic Capital Advisors LP now owns 1,331,073 shares of the company's stock worth $43,885,000 after buying an additional 80,000 shares during the period. State Street Corp lifted its position in Bristow Group by 3.5% during the fourth quarter. State Street Corp now owns 1,050,646 shares of the company's stock worth $38,475,000 after buying an additional 35,080 shares during the period. Wellington Management Group LLP boosted its stake in Bristow Group by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 755,388 shares of the company's stock worth $27,662,000 after buying an additional 22,680 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Bristow Group by 9.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,296 shares of the company's stock worth $14,256,000 after buying an additional 32,323 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company's stock.

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.