Shares of Tidewater Inc. (NYSE:TDW) fell 11.7% on Tuesday . The stock traded as low as $4.21 and last traded at $4.23, with a volume of 1,382,383 shares. The stock had previously closed at $4.79.

Several brokerages have recently weighed in on TDW. Iberia Capital downgraded shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research report on Friday, May 27th. Zacks Investment Research cut shares of Tidewater from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. One investment analyst has rated the stock with a sell rating and nine have issued a hold rating to the stock. Tidewater has an average rating of “Hold” and an average price target of $12.00.

The company’s market cap is $201.92 million. The firm has a 50-day moving average price of $4.98 and a 200-day moving average price of $6.24.

Tidewater (NYSE:TDW) last released its earnings results on Wednesday, May 25th. The company reported ($1.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $1.15. During the same period in the prior year, the business posted $0.43 EPS. The firm earned $184.17 million during the quarter, compared to the consensus estimate of $192.39 million. The company’s revenue was down 43.3% on a year-over-year basis. Equities analysts predict that Tidewater Inc. will post ($3.32) earnings per share for the current year.

Several institutional investors have added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its position in Tidewater by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 226,965 shares of the company’s stock valued at $1,580,000 after buying an additional 48,445 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tidewater by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,142 shares of the company’s stock valued at $2,152,000 after buying an additional 13,605 shares during the period. Morgan Stanley boosted its position in shares of Tidewater by 36.8% in the fourth quarter. Morgan Stanley now owns 370,204 shares of the company’s stock valued at $2,576,000 after buying an additional 99,566 shares during the period. Oceanic Investment Management LTD purchased a new position in shares of Tidewater during the fourth quarter valued at about $3,171,000. Finally, Russell Frank Co boosted its position in shares of Tidewater by 34.9% in the fourth quarter. Russell Frank Co now owns 1,170,784 shares of the company’s stock valued at $7,982,000 after buying an additional 302,930 shares during the period.

Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil.

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