Bristow Group (NYSE:VTOL) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

Key Points

• Bristow Group reported quarterly EPS of $0.70, missing analysts’ $0.89 estimate by $0.19, while revenue of $411.75 million exceeded expectations of $407.28 million.
• The stock rose 4.8% to $47.85 after the results. Bristow also declared a quarterly dividend of $0.125 per share, representing an annualized yield of approximately 1.0%.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $60.00, while institutional investors own 93.29% of the company’s shares.

Bristow Group (NYSE:VTOL - Get Free Report) posted 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. Bristow Group had a net margin of 7.51% and a return on equity of 11.10%. The business had revenue of $411.75 million during the quarter, compared to analysts' expectations of $407.28 million.

Bristow Group Stock Up 4.8%

NYSE:VTOL traded up $2.18 during trading hours on Tuesday, hitting $47.85. The company's stock had a trading volume of 253,317 shares, compared to its average volume of 218,753. The stock has a market capitalization of $1.42 billion, a P/E ratio of 12.46 and a beta of 1.22. The stock has a fifty day moving average of $43.10 and a 200-day moving average of $44.48. The company has a current ratio of 2.15, a quick ratio of 1.79 and a debt-to-equity ratio of 0.69. Bristow Group has a 52-week low of $33.72 and a 52-week high of $50.38.

Bristow Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 14th will be paid a dividend of $0.125 per share. The ex-dividend date is Friday, August 14th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.0%. Bristow Group's payout ratio is presently 13.02%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Bristow Group in the second quarter valued at approximately $25,000. Parkside Financial Bank & Trust boosted its holdings in shares of Bristow Group by 1,645.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company's stock valued at $41,000 after buying an additional 1,053 shares in the last quarter. Strs Ohio acquired a new position in shares of Bristow Group in the 1st quarter valued at $44,000. Tower Research Capital LLC TRC grew its position in shares of Bristow Group by 296.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,508 shares of the company's stock valued at $83,000 after buying an additional 1,876 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Bristow Group during the 2nd quarter worth $90,000. Hedge funds and other institutional investors own 93.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Bristow Group from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Bristow Group in a research note on Friday, May 29th. Finally, Zacks Research raised Bristow Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from 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 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.

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