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

Bristow Group Inc. (NYSE:VTOL) shares rose 5.9% 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. Approximately 43,439 shares changed hands during 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 (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.46. Bristow Group had a return on equity of 6.50% and a net margin of 3.93%. The business had revenue of $353.53 million during the quarter, compared to analyst estimates of $367.00 million.

Hedge Funds Weigh In On Bristow Group

A number of hedge funds have recently added to or reduced their stakes in VTOL. Sterling Capital Management LLC lifted its stake in Bristow Group by 795.5% in the fourth quarter. Sterling Capital Management LLC now owns 788 shares of the company’s stock valued at $27,000 after acquiring an additional 700 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Bristow Group during the 4th quarter valued at $34,000. Wolverine Asset Management LLC lifted its stake in shares of Bristow Group by 105.3% in the 4th 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 during the last quarter. BNP Paribas Financial Markets bought a new stake in Bristow Group in the fourth quarter worth $118,000. Finally, Aquatic Capital Management LLC acquired a new position in Bristow Group during the fourth quarter worth $142,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

Bristow Group Trading Up 9.1 %

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

About Bristow Group

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.