Bristow Group (NYSE:VTOL) Hits New 12-Month High – Here’s What Happened

Bristow Group Inc. (NYSE:VTOL)’s share price hit a new 52-week high on Tuesday . The company traded as high as $47.40 and last traded at $46.66, with a volume of 219930 shares trading hands. The stock had previously closed at $46.61.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VTOL. Zacks Research upgraded Bristow Group to a “hold” rating in a research report on Thursday, February 19th. Raymond James Financial started coverage on Bristow Group in a report on Tuesday, February 17th. They issued an “outperform” rating and a $60.00 price objective on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Bristow Group in a research note on Wednesday, January 21st. Finally, JonesTrading initiated coverage on shares of Bristow Group in a research report on Friday, January 23rd. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Bristow Group presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Bristow Group Stock Performance

The firm has a fifty day moving average price of $41.61 and a 200 day moving average price of $39.12. The company has a current ratio of 1.91, a quick ratio of 1.53 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1.35 billion, a PE ratio of 9.74 and a beta of 1.38.

Bristow Group (NYSE:VTOL) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.15. Bristow Group had a net margin of 9.71% and a return on equity of 14.83%. The firm had revenue of $377.26 million during the quarter, compared to analysts’ expectations of $380.33 million.

Bristow Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Friday, March 13th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, March 13th.

Institutional Investors Weigh In On Bristow Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VTOL. Encompass Capital Advisors LLC purchased a new stake in Bristow Group in the fourth quarter valued at $25,613,000. Boston Partners acquired a new stake in shares of Bristow Group during the 4th quarter worth about $13,486,000. Brown Advisory Inc. raised its holdings in Bristow Group by 21.3% in the 2nd quarter. Brown Advisory Inc. now owns 1,224,954 shares of the company’s stock valued at $40,387,000 after buying an additional 215,214 shares during the period. Kestrel Investment Management Corp acquired a new position in Bristow Group in the third quarter valued at about $4,876,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Bristow Group by 176.8% in the third quarter. Arrowstreet Capital Limited Partnership now owns 210,768 shares of the company’s stock valued at $7,605,000 after buying an additional 134,616 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.