Tidewater Inc. (TDW) Sees Strong Trading Volume
Tidewater Inc. (NYSE:TDW) shares saw unusually-high trading volume on Thursday . Approximately 2,461,621 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 1,776,702 shares.The stock last traded at $3.39 and had previously closed at $3.50.
TDW has been the subject of several analyst reports. Zacks Investment Research upgraded Tidewater from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a research note on Wednesday, April 20th. Argus reiterated a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Iberia Capital lowered Tidewater from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $8.00 to $4.00 in a research note on Friday, May 27th. Johnson Rice lowered Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley set a $4.50 target price on Tidewater and gave the company a “sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.25.
The company’s market capitalization is $152.03 million. The stock’s 50 day moving average price is $4.43 and its 200-day moving average price is $5.91.
Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing the consensus estimate of ($0.74) by $1.15. During the same period in the previous year, the company posted $0.18 earnings per share. The firm earned $167.90 million during the quarter, compared to analyst estimates of $169.75 million. The firm’s quarterly revenue was down 44.9% on a year-over-year basis. Equities research analysts expect that Tidewater Inc. will post ($3.47) EPS for the current year.
A hedge fund recently raised its stake in Tidewater stock. New York State Common Retirement Fund raised its stake in Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent disclosure with the SEC. 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 as of its most recent SEC filing.
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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