Bristow Group (NYSE:VTOL) Trading 5.9% Higher on Earnings Beat

Shares of Bristow Group Inc. (NYSE:VTOL) traded up 5.9% on Thursday following a better than expected earnings announcement. The company traded as high as $37.06 and last traded at $36.87. 43,439 shares were traded during mid-day trading, a decline of 55% from the average session volume of 96,847 shares. The stock had previously closed at $34.81.

The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.46. Bristow Group had a return on equity of 6.50% and a net margin of 3.93%. The firm had revenue of $353.53 million during the quarter, compared to the consensus estimate of $367.00 million.

Hedge Funds Weigh In On Bristow Group

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC grew its position in shares of Bristow Group by 795.5% during the 4th quarter. Sterling Capital Management LLC now owns 788 shares of the company’s stock worth $27,000 after buying an additional 700 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Bristow Group in the fourth quarter worth $34,000. Wolverine Asset Management LLC increased its stake in Bristow Group by 105.3% in the fourth quarter. Wolverine Asset Management LLC now owns 1,725 shares of the company’s stock valued at $59,000 after purchasing an additional 34,400 shares in the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Bristow Group during the fourth quarter valued at about $118,000. Finally, Aquatic Capital Management LLC acquired a new position in shares of Bristow Group during the fourth quarter valued at about $142,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Stock Up 6.1 %

The company has a current ratio of 1.83, a quick ratio of 1.49 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average price is $35.05 and its 200-day moving average price is $35.69. The company has a market cap of $1.06 billion, a P/E ratio of 19.83 and a beta of 1.35.

Bristow Group Company Profile

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.