Tidewater Inc. (TDW) Stock Price Up 3.5%
Tidewater Inc. (NYSE:TDW)’s share price rose 3.5% on Thursday . The company traded as high as $5.11 and last traded at $5.03, with a volume of 545,360 shares changing hands. The stock had previously closed at $4.86.
TDW has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Wednesday, April 20th. Argus reaffirmed a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Finally, Iberia Capital cut shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $8.00 to $4.00 in a research report on Friday, May 27th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. Tidewater currently has an average rating of “Hold” and an average target price of $12.00.
The stock has a 50-day moving average price of $4.78 and a 200 day moving average price of $6.14. The firm’s market cap is $224.51 million.
Tidewater (NYSE:TDW) last announced its earnings results on Wednesday, May 25th. The company reported ($1.74) EPS for the quarter, missing the consensus estimate of ($0.59) by $1.15. The company had revenue of $184.17 million for the quarter, compared to analysts’ expectations of $192.39 million. Tidewater’s revenue for the quarter was down 43.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. Equities analysts expect that Tidewater Inc. will post ($3.39) EPS for the current fiscal year.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Russell Frank Co increased 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. Morgan Stanley increased 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. Finally, New York State Common Retirement Fund increased its position 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 valued at $1,580,000 after buying an additional 48,445 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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