Tidewater Inc. (TDW) Sees Unusually-High Trading Volume
Tidewater Inc. (NYSE:TDW) shares saw unusually-high trading volume on Thursday . Approximately 2,046,419 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 1,871,268 shares.The stock last traded at $4.29 and had previously closed at $4.29.
TDW has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Tidewater from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. Argus reiterated a “hold” rating on shares of Tidewater in a research note on Friday. Finally, Iberia Capital downgraded shares of Tidewater from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $8.00 to $4.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $12.00.
The stock has a 50-day moving average of $4.88 and a 200 day moving average of $6.21. The firm’s market capitalization is $214.15 million.
Tidewater (NYSE:TDW) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.59) by $1.15. The business had revenue of $184.17 million for 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. During the same quarter in the previous year, the company posted $0.43 earnings per share. Equities analysts forecast that Tidewater Inc. will post ($3.32) EPS for the current year.
Several large investors have recently made changes to their positions in TDW. New York State Common Retirement Fund increased its stake in shares of Tidewater by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 226,965 shares of the company’s stock worth $1,580,000 after buying an additional 48,445 shares in the last quarter. Principal Financial Group Inc. increased its stake 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 worth $2,152,000 after buying an additional 13,605 shares in the last quarter. Morgan Stanley increased its stake in shares of Tidewater by 36.8% in the fourth quarter. Morgan Stanley now owns 370,204 shares of the company’s stock worth $2,576,000 after buying an additional 99,566 shares in the last quarter. Oceanic Investment Management LTD purchased a new stake in shares of Tidewater during the fourth quarter worth approximately $3,171,000. Finally, Russell Frank Co increased its stake 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 worth $7,982,000 after buying an additional 302,930 shares in the last quarter.
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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