Bristow Group (NYSE:VTOL) Stock Price Up 8.7% Following Earnings Beat

Key Points

• Bristow Group's shares rose by 8.7% to $38.15 following a quarterly earnings report that exceeded analysts' expectations, with an EPS of $1.07 compared to the consensus of $0.76.
• The company's revenue for the quarter was reported at $376.43 million, slightly below the anticipated $380.00 million, highlighting a net margin of 8.09%.
• Several institutional investors, including the New York State Teachers Retirement System, have recently increased their stakes in Bristow Group, indicating positive investor confidence in the company.

Shares of Bristow Group Inc. (NYSE:VTOL - Get Free Report) were up 8.7% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $39.08 and last traded at $38.15. Approximately 15,866 shares changed hands during trading, a decline of 90% from the average daily volume of 157,255 shares. The stock had previously closed at $35.08.

The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.76 by $0.31. Bristow Group had a net margin of 8.24% and a return on equity of 12.86%. The business had revenue of $376.43 million for the quarter, compared to analysts' expectations of $380.00 million.

Insider Transactions at Bristow Group

In other Bristow Group news, major shareholder Alternative Asset Manage Solus sold 45,857 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $33.49, for a total value of $1,535,750.93. Following the transaction, the insider directly owned 3,076,796 shares of the company's stock, valued at approximately $103,041,898.04. This trade represents a 1.47% 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 the SEC website. Also, CFO Jennifer Dawn Whalen sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $37.55, for a total transaction of $187,750.00. Following the completion of the transaction, the chief financial officer directly owned 94,203 shares in the company, valued at approximately $3,537,322.65. The trade was a 5.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,085 shares of company stock valued at $2,506,739. 13.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bristow Group

Several hedge funds have recently bought and sold shares of VTOL. KLP Kapitalforvaltning AS acquired a new stake in Bristow Group in the fourth quarter worth $34,000. JPMorgan Chase & Co. raised its holdings in Bristow Group by 115.6% in the fourth quarter. JPMorgan Chase & Co. now owns 157,978 shares of the company's stock worth $5,419,000 after purchasing an additional 84,721 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Bristow Group in the fourth quarter worth $998,000. Wells Fargo & Company MN raised its holdings in Bristow Group by 29.6% in the fourth quarter. Wells Fargo & Company MN now owns 14,841 shares of the company's stock worth $509,000 after purchasing an additional 3,392 shares during the period. Finally, Invesco Ltd. raised its holdings in Bristow Group by 8.5% in the fourth quarter. Invesco Ltd. now owns 427,731 shares of the company's stock worth $14,671,000 after purchasing an additional 33,514 shares during the period. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Bristow Group Trading Down 1.2%

The company's fifty day simple moving average is $34.13 and its two-hundred day simple moving average is $32.44. The company has a quick ratio of 1.44, a current ratio of 1.81 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.47 and a beta of 1.32.

About Bristow Group

Bristow Group Inc provides vertical flight solutions. The company primarily offers aviation services to integrated, national, and independent offshore energy companies and government agencies. It also provides personnel transportation, search and rescue, medevac, ad hoc helicopter, fixed wing transportation, unmanned systems, and ad-hoc helicopter services, as well as logistical and maintenance support, training services, and flight and maintenance crews.