Tidewater Inc. (TDW) Trading 3.5% Higher
Tidewater Inc. (NYSE:TDW)’s share price traded up 3.5% during trading on Thursday . The company traded as high as $5.11 and last traded at $5.03, with a volume of 545,360 shares. The stock had previously closed at $4.86.
A number of equities analysts have commented on the stock. Iberia Capital downgraded shares of Tidewater from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $8.00 to $4.00 in a report on Friday, May 27th. Zacks Investment Research downgraded shares of Tidewater from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, Argus reiterated a “hold” rating on shares of Tidewater in a report on Friday, July 8th. One analyst has rated the stock with a sell rating and nine have issued a hold rating to the company. The company has an average rating of “Hold” and an average price target of $12.00.
The company’s 50 day moving average price is $4.79 and its 200 day moving average price is $6.16. The stock’s market cap is $231.10 million.
Tidewater (NYSE:TDW) last announced its quarterly earnings data on Wednesday, May 25th. The company reported ($1.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $1.15. The firm earned $184.17 million during the quarter, compared to analyst estimates of $192.39 million. The business’s revenue for the quarter was down 43.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 EPS. Equities research analysts expect that Tidewater Inc. will post ($3.39) EPS for the current year.
Several institutional investors recently made changes to their positions in TDW. New York State Common Retirement Fund boosted its position in shares of 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 last quarter. Morgan Stanley boosted its position in shares of 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 last quarter. Oceanic Investment Management LTD bought a new position in shares of Tidewater during the fourth quarter valued at about $3,171,000. Finally, Russell Frank Co boosted its position in shares of 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 last quarter.
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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