Bristow Group (NYSE:VTOL) Announces Quarterly Earnings Results

Bristow Group (NYSE:VTOL) announced its quarterly earnings data on Tuesday. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.22), FiscalAI reports. Bristow Group had a net margin of 4.98% and a return on equity of 7.52%. The company had revenue of $437.92 million for the quarter, compared to analysts’ expectations of $443.25 million.

Bristow Group Trading Down 6.1%

NYSE VTOL traded down $2.38 during trading hours on Thursday, hitting $36.59. 114,997 shares of the company’s stock were exchanged, compared to its average volume of 231,910. The company has a current ratio of 2.26, a quick ratio of 1.85 and a debt-to-equity ratio of 0.66. Bristow Group has a 1-year low of $35.65 and a 1-year high of $50.38. The stock has a 50-day simple moving average of $41.56 and a 200 day simple moving average of $43.96. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 13.61 and a beta of 1.22.

Bristow Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.1250 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 13th. Bristow Group’s payout ratio is 14.41%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VTOL. Raymond James Financial reaffirmed an “outperform” rating and issued a $63.00 price target on shares of Bristow Group in a research note on Thursday. Weiss Ratings upgraded Bristow Group from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity at Bristow Group

In other Bristow Group news, COO Stuart Stavley sold 10,218 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $46.20, for a total value of $472,071.60. Following the completion of the transaction, the chief operating officer owned 64,740 shares of the company’s stock, valued at $2,990,988. The trade was a 13.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lorin L. Brass sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 22nd. The shares were sold at an average price of $42.42, for a total value of $127,260.00. Following the transaction, the director directly owned 14,223 shares in the company, valued at approximately $603,339.66. This represents a 17.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 53,858 shares of company stock valued at $2,431,989. 12.80% of the stock is owned by insiders.

About Bristow Group

Bristow Group Inc (NYSE: VTOL) is a provider of aviation services, specializing in helicopter transportation and support for the offshore energy industry, government agencies and other commercial customers. The company operates helicopters and fixed-wing aircraft to transport personnel and equipment, support offshore installations and provide specialized aviation services.

Bristow’s government services include search-and-rescue operations, emergency response and aviation support conducted under long-term contracts.