Tidewater Inc. (TDW) Reaches New 1-Year Low at $3.06
Tidewater Inc. (NYSE:TDW) reached a new 52-week low during trading on Thursday . The company traded as low as $3.06 and last traded at $3.15, with a volume of 737,821 shares changing hands. The stock had previously closed at $3.27.
A number of research firms have commented on TDW. Morgan Stanley set a $4.50 price target on Tidewater and gave the company a “sell” rating in a report on Thursday, August 11th. Johnson Rice cut Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday, August 10th. Zacks Investment Research cut Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Argus reissued a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Finally, Iberia Capital cut 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 report on Friday, May 27th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.25.
The stock’s market cap is $150.14 million. The stock has a 50 day moving average of $3.83 and a 200 day moving average of $5.69.
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 the consensus estimate of ($0.74) by $1.15. During the same quarter last year, the firm posted $0.18 earnings per share. The company earned $167.90 million during the quarter, compared to analysts’ expectations of $169.75 million. Tidewater’s revenue for the quarter was down 44.9% compared to the same quarter last year. Equities analysts anticipate that Tidewater Inc. will post ($4.27) EPS 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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