Tidewater Inc. (TDW) Hits New 1-Year Low at $3.12
Tidewater Inc. (NYSE:TDW) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.12 and last traded at $3.14, with a volume of 443,856 shares. The stock had previously closed at $3.18.
A number of research firms have issued reports on TDW. Morgan Stanley set a $4.50 target price on shares of Tidewater and gave the stock a “sell” rating in a report on Thursday, August 11th. Zacks Investment Research lowered shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Johnson Rice lowered shares of Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday, August 10th. Argus reiterated a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Finally, Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Friday, May 27th. Three investment analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. Tidewater presently has a consensus rating of “Hold” and an average price target of $11.25.
The company’s 50-day moving average price is $4.05 and its 200-day moving average price is $5.75. The company’s market cap is $147.32 million.
Tidewater (NYSE:TDW) last released its earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by $1.15. During the same period last year, the firm posted $0.18 EPS. The company had revenue of $167.90 million for the quarter, compared to analysts’ expectations of $169.75 million. The business’s revenue for the quarter was down 44.9% compared to the same quarter last year. On average, analysts predict that Tidewater Inc. will post ($4.27) earnings per share for the current fiscal 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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