Bristow Group (NYSE:VTOL) Trading 5.9% Higher on Strong Earnings

Bristow Group Inc. (NYSE:VTOL - Get Free Report)'s share price 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 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 analysts' consensus estimates of $0.61 by $0.46. Bristow Group had a return on equity of 6.50% and a net margin of 3.93%. The company had revenue of $353.53 million during the quarter, compared to the consensus estimate of $367.00 million.

Hedge Funds Weigh In On Bristow Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its stake in Bristow Group by 5.7% during the third quarter. New York State Teachers Retirement System now owns 16,683 shares of the company's stock worth $579,000 after buying an additional 900 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Bristow Group by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 37,362 shares of the company's stock worth $1,296,000 after buying an additional 1,876 shares during the last quarter. Quest Partners LLC grew its position in Bristow Group by 32.7% in the third quarter. Quest Partners LLC now owns 6,138 shares of the company's stock valued at $213,000 after acquiring an additional 1,511 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Bristow Group in the third quarter worth about $298,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Bristow Group in the 3rd quarter valued at approximately $212,000. 93.29% of the stock is owned by institutional investors and hedge funds.

Bristow Group Stock Performance

The company has a current ratio of 1.83, a quick ratio of 1.49 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $978.22 million, a price-to-earnings ratio of 18.37 and a beta of 1.35. The stock's 50-day moving average is $35.25 and its 200-day moving average is $35.68.

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.