Tidewater Inc. (TDW) Trading Up 2.5%
Tidewater Inc. (NYSE:TDW) shares were up 2.5% on Tuesday . The stock traded as high as $3.40 and last traded at $3.32, with a volume of 1,188,971 shares traded. The stock had previously closed at $3.24.
Several research analysts have recently weighed in on TDW shares. Morgan Stanley set a $4.50 price target on shares of Tidewater and gave the stock a “sell” rating in a research note on Thursday, August 11th. Argus reiterated a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Zacks Investment Research upgraded shares of Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research note on Wednesday, April 20th. Iberia Capital cut shares of Tidewater from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $8.00 to $4.00 in a research note on Friday, May 27th. Finally, Johnson Rice cut shares of Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Tidewater presently has an average rating of “Hold” and a consensus target price of $11.25.
The company’s market cap is $160.97 million. The stock’s 50 day moving average price is $4.28 and its 200 day moving average price is $5.86.
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 Zacks’ consensus estimate of ($0.74) by $1.15. The firm had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $169.75 million. Tidewater’s revenue for the quarter was down 44.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 EPS. Analysts predict that Tidewater Inc. will post ($4.03) earnings per share for the current year.
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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