Tidewater Inc. (TDW) Hits New 1-Year Low at $3.77
Shares of Tidewater Inc. (NYSE:TDW) reached a new 52-week low on Tuesday . The stock traded as low as $3.77 and last traded at $3.83, with a volume of 1,153,846 shares changing hands. The stock had previously closed at $4.04.
Several analysts have weighed in on TDW shares. Argus reissued a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Zacks Investment Research raised Tidewater from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a report on Wednesday, April 20th. Finally, Iberia Capital lowered Tidewater from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $8.00 to $4.00 in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.00.
The firm’s market cap is $181.67 million. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $6.01.
Tidewater (NYSE:TDW) last announced its earnings results 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. The business earned $184.17 million during the quarter, compared to analysts’ expectations of $192.39 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Tidewater’s quarterly revenue was down 43.3% compared to the same quarter last year. On average, equities research analysts predict that Tidewater Inc. will post ($3.39) earnings per share for the current year.
An institutional investor recently raised its position in Tidewater stock. New York State Common Retirement Fund raised 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 Securities and Exchange Commission. 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 as of its most recent filing with the SEC.
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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