Tidewater Inc. (TDW) Hits New 1-Year Low at $3.77
Shares of Tidewater Inc. (NYSE:TDW) hit a new 52-week low on Tuesday . The company traded as low as $3.77 and last traded at $3.83, with a volume of 1,153,846 shares. The stock had previously closed at $4.04.
TDW has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a research report on Wednesday, April 20th. Argus restated a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Finally, Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $8.00 to $4.00 in a research report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $12.00.
The company’s market capitalization is $186.39 million. The stock’s 50-day moving average price is $4.57 and its 200 day moving average price is $5.98.
Tidewater (NYSE:TDW) last released its earnings results 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. The firm earned $184.17 million during the quarter, compared to the consensus estimate of $192.39 million. The business’s quarterly revenue was down 43.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 earnings per share. Equities research analysts forecast that Tidewater Inc. will post ($3.39) earnings per share for the current fiscal year.
An institutional investor recently raised its position 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 disclosure with the Securities and Exchange Commission. The fund 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 0.48% of Tidewater worth $1,580,000 at the end of the most recent reporting 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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