Bristow Group (NYSE:VTOL) Shares Down 7.9% on Disappointing Earnings

Key Points

• Bristow Group shares fell 7.9% after the company reported quarterly earnings of $0.70 per share, missing the $0.89 analyst consensus by $0.19. Revenue of $411.75 million modestly exceeded estimates of $407.28 million.
• The company declared a quarterly dividend of $0.125 per share, equivalent to $0.50 annually and a 1.1% yield. The dividend is payable August 28 to shareholders of record August 14.
• Despite the earnings miss and mixed analyst actions, Bristow retains a “Moderate Buy” consensus rating, with an average price target of $60 versus the recent share price near $43.95. Institutional investors own 93.29% of the stock.

Bristow Group Inc. (NYSE:VTOL - Get Free Report) shares traded down 7.9% during trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $43.80 and last traded at $43.95. Approximately 88,786 shares were traded during mid-day trading, a decline of 59% from the average session volume of 217,785 shares. The stock had previously closed at $47.74.

The company reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.19). The company had revenue of $411.75 million for the quarter, compared to analyst estimates of $407.28 million. Bristow Group had a return on equity of 11.10% and a net margin of 7.51%.

Bristow Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. Bristow Group's dividend payout ratio (DPR) is currently 13.02%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Bristow Group in a research note on Friday, May 29th. Zacks Research raised Bristow Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded Bristow Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bristow Group presently has an average rating of "Moderate Buy" and an average target price of $60.00.

Institutional Investors Weigh In On Bristow Group

A number of institutional investors and hedge funds have recently modified their holdings of VTOL. AQR Capital Management LLC acquired a new position in Bristow Group in the 1st quarter valued at approximately $1,119,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 valued at $461,000 after purchasing an additional 609 shares during the last quarter. Jane Street Group LLC grew 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 valued at $1,690,000 after buying an additional 34,317 shares during the last quarter. Strs Ohio acquired a new stake in shares of Bristow Group in the first quarter valued at about $44,000. Finally, Creative Planning bought a new stake in Bristow Group in the 2nd quarter valued at $236,000. Institutional investors and hedge funds own 93.29% of the company's stock.

Bristow Group Stock Performance

The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 11.46 and a beta of 1.22. The firm has a fifty day simple moving average of $43.19 and a 200 day simple moving average of $44.54. 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 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.

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