Tidewater Inc. (TDW) Trading Down 4.5%
Tidewater Inc. (NYSE:TDW) shares were down 4.5% during mid-day trading on Wednesday . The company traded as low as $4.78 and last traded at $4.87, with a volume of 823,294 shares trading hands. The stock had previously closed at $5.10.
A number of analysts recently issued reports on TDW shares. Zacks Investment Research cut shares of Tidewater from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th. Argus reaffirmed a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Finally, Iberia Capital cut shares of Tidewater from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $8.00 to $4.00 in a research note on Friday, May 27th. One research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $12.00.
The firm’s market cap is $228.75 million. The stock’s 50-day moving average price is $4.81 and its 200-day moving average price is $6.17.
Tidewater (NYSE:TDW) last issued its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by $1.15. The company earned $184.17 million during the quarter, compared to analyst estimates of $192.39 million. The business’s quarterly revenue was down 43.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. On average, equities analysts forecast that Tidewater Inc. will post ($3.39) EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Russell Frank Co raised its position in 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 last quarter. Oceanic Investment Management LTD bought a new position in Tidewater during the fourth quarter valued at about $3,171,000. Morgan Stanley raised its position in 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 last quarter. Finally, New York State Common Retirement Fund raised 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 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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