Bristow Group (NYSE:VTOL) Trading Down 10.2% Following Weak Earnings

Key Points

• Shares fell 10.2% (to about $43.94) after Bristow reported Q-quarter EPS of $0.44 vs. $1.01 expected, while revenue was roughly in line at $388.7M.
• Bristow declared a quarterly dividend of $0.125 (annualized $0.50, yield ~1.1%) with an ex-dividend date of May 15 and a payout ratio near 11.6%.
• Wall Street shows a generally positive view (MarketBeat consensus "Moderate Buy" with an average target of $60), even as insiders sold roughly 61,104 shares in the last 90 days and institutions own about 93% of the stock.

Shares of Bristow Group Inc. (NYSE:VTOL - Get Free Report) were down 10.2% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $42.60 and last traded at $43.9350. Approximately 45,985 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 206,729 shares. The stock had previously closed at $48.90.

The company reported $0.44 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.57). Bristow Group had a net margin of 8.66% and a return on equity of 12.87%. The company had revenue of $388.71 million for the quarter, compared to analysts' expectations of $383.68 million.

Bristow Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 15th. Bristow Group's dividend payout ratio is currently 11.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on VTOL shares. JonesTrading started coverage on Bristow Group in a research note on Friday, January 23rd. They issued a "buy" rating for the company. Zacks Research raised Bristow Group to a "hold" rating in a research note on Thursday, February 19th. Wall Street Zen raised Bristow Group from a "hold" rating to a "buy" rating in a research note on Sunday, March 8th. Raymond James Financial started coverage on Bristow Group in a research note on Tuesday, February 17th. They issued an "outperform" rating and a $60.00 price objective for the company. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Bristow Group in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $60.00.

Insider Buying and Selling

In other Bristow Group news, CFO Jennifer Dawn Whalen sold 26,667 shares of the company's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $46.90, for a total value of $1,250,682.30. Following the transaction, the chief financial officer directly owned 108,241 shares of the company's stock, valued at $5,076,502.90. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Stuart Stavley sold 24,908 shares of the company's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $47.02, for a total value of $1,171,174.16. Following the completion of the transaction, the chief operating officer directly owned 85,790 shares in the company, valued at approximately $4,033,845.80. The trade was a 22.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,104 shares of company stock worth $2,869,206. Insiders own 13.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VTOL. AQR Capital Management LLC acquired a new position in Bristow Group in the 1st quarter worth about $1,119,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Bristow Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,592 shares of the company's stock valued at $461,000 after acquiring an additional 609 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Bristow Group by 178.7% during the 1st quarter. Jane Street Group LLC now owns 53,526 shares of the company's stock valued at $1,690,000 after acquiring an additional 34,317 shares during the last quarter. Strs Ohio acquired a new position in shares of Bristow Group during the 1st quarter valued at about $44,000. Finally, Creative Planning acquired a new position in shares of Bristow Group during the 2nd quarter valued at about $236,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Stock Performance

The company has a current ratio of 1.90, a quick ratio of 1.54 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 10.38 and a beta of 1.29. The stock has a fifty day moving average price of $46.79 and a 200 day moving average price of $42.19.

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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