Tidewater Inc. (TDW) Trading 5.3% Higher
Tidewater Inc. (NYSE:TDW) traded up 5.3% during trading on Friday . The company traded as high as $4.57 and last traded at $4.55, with a volume of 1,873,073 shares changing hands. The stock had previously closed at $4.32.
A number of equities research analysts have recently commented on the company. Argus reiterated a “hold” rating on shares of Tidewater in a research report on Friday. Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Friday, May 27th. Finally, Zacks Investment Research downgraded Tidewater from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock presently has an average 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 stock’s market capitalization is $214.15 million.
Tidewater (NYSE:TDW) last posted its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) earnings per share for the quarter, missing the consensus estimate of ($0.59) by $1.15. During the same period in the previous year, the business earned $0.43 EPS. The company had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $192.39 million. Tidewater’s revenue was down 43.3% compared to the same quarter last year. Equities research analysts predict that Tidewater Inc. will post ($3.32) EPS for the current year.
Other hedge funds and institutional investors recently bought and sold shares of the company. Oceanic Investment Management LTD bought a new position in Tidewater during the fourth quarter valued at $3,171,000. Morgan Stanley raised its stake in 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. Russell Frank Co raised its stake in 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. Finally, New York State Common Retirement Fund raised its stake 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 worth $1,580,000 after buying an additional 48,445 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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