Tidewater Inc. (TDW) Shares Up 3%
Tidewater Inc. (NYSE:TDW) shot up 3% on Tuesday . The stock traded as high as $4.52 and last traded at $4.49, with a volume of 378,154 shares traded. The stock had previously closed at $4.36.
Several brokerages have recently weighed in on TDW. Argus reaffirmed a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $8.00 to $4.00 in a research note on Friday, May 27th. Finally, Zacks Investment Research lowered shares of Tidewater from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. One analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.00.
The stock’s 50-day moving average price is $4.80 and its 200 day moving average price is $6.05. The company’s market cap is $210.39 million.
Tidewater (NYSE:TDW) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $1.15. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business had revenue of $184.17 million for the quarter, compared to the consensus estimate of $192.39 million. The business’s revenue for the quarter was down 43.3% compared to the same quarter last year.
A hedge fund recently raised its stake in Tidewater stock. New York State Common Retirement Fund boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 226,965 shares of the company’s stock after buying an additional 48,445 shares during the period. New York State Common Retirement Fund owned about 0.48% of Tidewater worth $1,580,000 at the end of the most recent 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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