Analysts Set Tidewater Inc. (NYSE:TDW) PT at $10.25
Shares of Tidewater Inc. (NYSE:TDW) have received a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company. Three research analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $10.25.
A number of brokerages have weighed in on TDW. Zacks Investment Research lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Argus reiterated a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Morgan Stanley set a $4.50 target price on Tidewater and gave the stock a “sell” rating in a research report on Thursday, August 11th. Finally, Johnson Rice lowered Tidewater from an “accumulate” rating to a “hold” rating in a research report on Wednesday, August 10th.
Tidewater (NYSE:TDW) opened at 3.13 on Tuesday. The firm has a 50-day moving average price of $3.06 and a 200 day moving average price of $5.04. The stock’s market cap is $147.32 million. Tidewater has a 52-week low of $2.16 and a 52-week high of $17.63.
Tidewater (NYSE:TDW) last issued its quarterly earnings data 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. Tidewater had a negative net margin of 27.81% and a negative return on equity of 3.68%. The business had revenue of $167.90 million for the quarter, compared to analyst estimates of $169.75 million. During the same quarter last year, the business earned $0.18 EPS. Tidewater’s revenue for the quarter was down 44.9% compared to the same quarter last year. Equities analysts anticipate that Tidewater will post ($4.27) earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. Thrivent Financial for Lutherans increased its stake in shares of Tidewater by 11.8% in the second quarter. Thrivent Financial for Lutherans now owns 23,640 shares of the company’s stock valued at $104,000 after buying an additional 2,490 shares during the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Tidewater during the second quarter valued at $106,000. Arizona State Retirement System increased its stake in shares of Tidewater by 1.2% in the second quarter. Arizona State Retirement System now owns 24,432 shares of the company’s stock valued at $108,000 after buying an additional 300 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Tidewater by 65.7% in the second quarter. Public Employees Retirement System of Ohio now owns 27,750 shares of the company’s stock valued at $122,000 after buying an additional 11,002 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Tidewater during the second quarter valued at $142,000.
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s 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 of offshore Mexico, Trinidad and Brazil.
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