Bristow Group (NYSE:VTOL) Trading Up 5.9% Following Strong Earnings

Bristow Group Inc. (NYSE:VTOL)’s share price was up 5.9% during 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 changed 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, beating the consensus estimate of $0.61 by $0.46. The company had revenue of $353.53 million during the quarter, compared to the consensus estimate of $367.00 million. Bristow Group had a net margin of 3.93% and a return on equity of 6.50%.

Institutional Investors Weigh In On Bristow Group

Several institutional investors and hedge funds have recently made changes to their positions in VTOL. Western Standard LLC lifted its stake in shares of Bristow Group by 41.5% during the fourth quarter. Western Standard LLC now owns 563,318 shares of the company’s stock worth $19,322,000 after buying an additional 165,318 shares during the period. American Century Companies Inc. lifted its stake in shares of Bristow Group by 22.4% during the fourth quarter. American Century Companies Inc. now owns 578,940 shares of the company’s stock worth $19,858,000 after buying an additional 105,834 shares during the period. Graham Capital Wealth Management LLC acquired a new stake in shares of Bristow Group during the fourth quarter worth $2,969,000. JPMorgan Chase & Co. lifted its stake 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 buying an additional 84,721 shares during the period. Finally, Hartree Partners LP acquired a new stake in shares of Bristow Group during the fourth quarter worth $2,550,000. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Bristow Group Stock Down 2.5 %

The company’s 50 day moving average price is $35.25 and its 200 day moving average price is $35.70. The company has a quick ratio of 1.49, a current ratio of 1.83 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 19.92 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.