Bristow Group (NYSE:VTOL) Trading Up 5.9% Following Better-Than-Expected Earnings

Bristow Group Inc. (NYSE:VTOL) shot up 5.9% during trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $37.06 and last traded at $36.87. 43,439 shares changed hands during 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 net margin of 3.93% and a return on equity of 6.50%. The business had revenue of $353.53 million during the quarter, compared to analysts’ expectations of $367.00 million.

Institutional Investors Weigh In On Bristow Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sterling Capital Management LLC boosted its stake in Bristow Group by 795.5% during the 4th quarter. Sterling Capital Management LLC now owns 788 shares of the company’s stock valued at $27,000 after purchasing an additional 700 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Bristow Group during the fourth quarter valued at about $34,000. Wolverine Asset Management LLC lifted its stake in shares of 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 buying an additional 34,400 shares during the period. BNP Paribas Financial Markets acquired a new stake in Bristow Group during the fourth quarter worth about $118,000. Finally, Aquatic Capital Management LLC acquired a new position in Bristow Group in the 4th quarter valued at approximately $142,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Price Performance

The company has a market cap of $1.09 billion, a P/E ratio of 20.42 and a beta of 1.35. The stock has a 50-day simple moving average of $35.16 and a 200 day simple moving average of $35.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.49 and a current ratio of 1.83.

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.