Shares of Tidewater Inc. (NYSE:TDW) dropped 4.5% on Wednesday . The stock traded as low as $4.78 and last traded at $4.87, with a volume of 823,294 shares changing hands. The stock had previously closed at $5.10.

A number of analysts have recently commented on the company. Argus reissued a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Zacks Investment Research raised Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a research note on Wednesday, April 20th. Finally, Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and dropped 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 issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $12.00.

The company’s market cap is $230.86 million. The stock has a 50 day moving average price of $4.75 and a 200 day moving average price of $6.15.

Tidewater (NYSE:TDW) last released its quarterly earnings results 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 company earned $184.17 million during the quarter, compared to analyst estimates of $192.39 million. During the same quarter in the previous year, the business posted $0.43 EPS. Tidewater’s revenue was down 43.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tidewater Inc. will post ($3.39) EPS for the current fiscal year.

A number of large investors have added to or reduced their stakes in TDW. 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 during the period. Oceanic Investment Management LTD acquired a new stake in Tidewater during the fourth quarter worth approximately $3,171,000. 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 during the period. Finally, 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 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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