Tidewater Inc. (TDW) Stock Price Up 5.3%
Tidewater Inc. (NYSE:TDW)’s share price rose 5.3% during mid-day trading on Friday . The stock traded as high as $4.57 and last traded at $4.55, with a volume of 1,873,073 shares trading hands. The stock had previously closed at $4.32.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Tidewater from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Iberia Capital cut shares of Tidewater from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $4.00 in a research report on Friday, May 27th. Finally, Argus reaffirmed a “hold” rating on shares of Tidewater in a research report on Friday. One equities research analyst has rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $12.00.
The firm’s market cap is $214.15 million. The company has a 50 day moving average of $4.92 and a 200 day moving average of $6.22.
Tidewater (NYSE:TDW) last posted its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by $1.15. The firm had revenue of $184.17 million for the quarter, compared to the consensus estimate of $192.39 million. During the same period in the previous year, the business posted $0.43 EPS. The firm’s revenue for the quarter was down 43.3% compared to the same quarter last year. Equities analysts anticipate that Tidewater Inc. will post ($3.32) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of TDW. New York State Common Retirement Fund boosted its stake 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. Principal Financial Group Inc. boosted its stake 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. Morgan Stanley boosted its stake 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. Oceanic Investment Management LTD purchased a new stake in Tidewater during the fourth quarter valued at $3,171,000. Finally, Russell Frank Co boosted its stake 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.
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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