Bristow Group (NYSE:VTOL) Shares Up 5.9% on Earnings Beat

Bristow Group Inc. (NYSE:VTOL)’s stock price was up 5.9% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $37.06 and last traded at $36.87. Approximately 43,439 shares traded hands during mid-day trading, a decline of 55% from the average daily 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 the consensus estimate of $0.61 by $0.46. The company had revenue of $353.53 million for the quarter, compared to analysts’ expectations of $367.00 million. Bristow Group had a return on equity of 6.50% and a net margin of 3.93%.

Hedge Funds Weigh In On Bristow Group

Several large investors have recently modified their holdings of VTOL. Western Standard LLC increased its holdings in Bristow Group by 41.5% in the fourth quarter. Western Standard LLC now owns 563,318 shares of the company’s stock valued at $19,322,000 after purchasing an additional 165,318 shares during the period. American Century Companies Inc. grew its position in shares of Bristow Group by 22.4% in the 4th quarter. American Century Companies Inc. now owns 578,940 shares of the company’s stock valued at $19,858,000 after buying an additional 105,834 shares during the last quarter. Graham Capital Wealth Management LLC acquired a new stake in shares of Bristow Group in the fourth quarter valued at about $2,969,000. JPMorgan Chase & Co. raised its position in shares of Bristow Group by 115.6% during the fourth quarter. JPMorgan Chase & Co. now owns 157,978 shares of the company’s stock worth $5,419,000 after acquiring an additional 84,721 shares during the last quarter. Finally, Hartree Partners LP bought a new position in shares of Bristow Group during the fourth quarter worth about $2,550,000. Institutional investors own 93.29% of the company’s stock.

Bristow Group Stock Performance

The stock has a 50 day moving average of $35.05 and a 200 day moving average of $35.69. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 19.83 and a beta of 1.35. The company has a quick ratio of 1.49, a current ratio of 1.83 and a debt-to-equity ratio of 0.68.

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.