NEW YORK (TheStreet) -- Shares of Bristow Group (BRS) - Get Report are tumbling by 19.19% to $12.51 on heavy volume on Thursday afternoon, after the oil related services company posted weaker than expected fiscal 2016 fourth quarter financial results.
The company reported a loss of 72 cents per share, while adjusted earnings came in at 13 cents per share for the most recent quarter. Analysts had forecast for earnings of 49 cents per share.
Bristow Group's revenue for the three month period ended March 31 was $381.7 million, below the $408.2 million analysts had been expecting.
"Fiscal 2016 was a difficult and challenging year for Bristow. However, the March 2016 quarter results, especially the 20% increase in liquidity, demonstrate the success of our cost reduction and diversification efforts," company CEO Jonathan Baliff said in a statement.
The company reported a loss of $2.12 per share on revenue of $1.72 billion for the fiscal year.
Houston-based Bristow Group is a provider of helicopter services to the offshore energy industry with global operations.
Separately, TheStreet Ratings has set a "sell" rating and a score of D+ on Bristow Group stock. This is driven by multiple weaknesses, which TheStreet Ratings believes should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks it covers.
The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins, weak operating cash flow, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share.
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: BRS