Tidewater Inc. (TDW) Trading 3.1% Higher
Tidewater Inc. (NYSE:TDW) shares traded up 3.1% on Wednesday . The company traded as high as $3.28 and last traded at $3.28, with a volume of 456,951 shares trading hands. The stock had previously closed at $3.18.
A number of research analysts have weighed in on the company. Morgan Stanley set a $4.50 price target on Tidewater and gave the company a “sell” rating in a research note on Thursday, August 11th. Zacks Investment Research downgraded Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Johnson Rice downgraded Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Argus restated a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Finally, Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $8.00 to $4.00 in a research note 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’s stock. Tidewater currently has an average rating of “Hold” and a consensus price target of $11.25.
The firm has a 50 day moving average of $3.87 and a 200-day moving average of $5.70. The stock’s market capitalization is $145.44 million.
Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by $1.15. The company earned $167.90 million during the quarter, compared to analyst estimates of $169.75 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was down 44.9% compared to the same quarter last year. Equities analysts predict that Tidewater Inc. will post ($4.27) 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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