Tidewater Inc. (TDW) Sees Strong Trading Volume
Tidewater Inc. (NYSE:TDW) saw unusually-high trading volume on Thursday . Approximately 2,046,419 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 1,871,268 shares.The stock last traded at $4.29 and had previously closed at $4.29.
TDW has been the topic of several research analyst reports. Zacks Investment Research lowered shares of Tidewater from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $8.00 to $4.00 in a report on Friday, May 27th. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.00.
The company has a 50-day moving average price of $4.92 and a 200 day moving average price of $6.22. The company’s market capitalization is $203.33 million.
Tidewater (NYSE:TDW) last posted its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by $1.15. The company earned $184.17 million during the quarter, compared to analyst estimates of $192.39 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The firm’s revenue was down 43.3% on a year-over-year basis. On average, analysts predict that Tidewater Inc. will post ($3.32) EPS for the current year.
A number of institutional investors have added to or reduced their stakes in the company. Oceanic Investment Management LTD acquired a new position in Tidewater during the fourth quarter valued at $3,171,000. Russell Frank Co increased its position in Tidewater by 34.9% in the fourth quarter. Russell Frank Co now owns 1,170,784 shares of the company’s stock valued at $7,982,000 after buying an additional 302,930 shares during the period. Morgan Stanley increased its position in Tidewater by 36.8% in the fourth quarter. Morgan Stanley now owns 370,204 shares of the company’s stock valued at $2,576,000 after buying an additional 99,566 shares during the period. New York State Common Retirement Fund increased its position in Tidewater by 27.1% in the fourth quarter. New York State Common Retirement Fund now owns 226,965 shares of the company’s stock valued at $1,580,000 after buying an additional 48,445 shares during the period. Finally, Principal Financial Group Inc. increased its position in Tidewater by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 309,142 shares of the company’s stock valued at $2,152,000 after buying an additional 13,605 shares during the period.
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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