Bristow Group (NYSE:VTOL) Shares Down 7.9% Following Weak Earnings

Bristow Group Inc. (NYSE:VTOL) fell 7.9% on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $43.80 and last traded at $43.95. Approximately 88,786 shares changed hands during trading, a decline of 59% from the average daily volume of 217,785 shares. The stock had previously closed at $47.74.

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

Bristow Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, August 14th. Bristow Group’s payout ratio is presently 13.02%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Weiss Ratings restated a “buy (b)” rating on shares of Bristow Group in a report on Friday, May 29th. Wall Street Zen cut shares of Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research upgraded Bristow Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Three investment 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 has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Institutional Investors Weigh In On Bristow Group

A number of institutional investors have recently made changes to their positions in VTOL. Raymond James Financial Inc. acquired a new stake in Bristow Group during the 2nd quarter worth approximately $25,000. Clearstead Advisors LLC boosted its position in shares of Bristow Group by 1,450.7% in the fourth quarter. Clearstead Advisors LLC now owns 1,070 shares of the company’s stock valued at $39,000 after acquiring an additional 1,001 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Bristow Group by 1,645.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock valued at $41,000 after acquiring an additional 1,053 shares in the last quarter. Strs Ohio bought a new position in Bristow Group during the first quarter worth about $44,000. Finally, Wolverine Asset Management LLC raised its stake in Bristow Group by 121.4% in the 4th quarter. Wolverine Asset Management LLC now owns 1,824 shares of the company’s stock worth $67,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

Bristow Group Stock Down 7.8%

The stock’s fifty day simple moving average is $43.19 and its 200-day simple moving average is $44.54. The stock has a market cap of $1.30 billion, a P/E ratio of 11.46 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.15.

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.