Tidewater Inc. (TDW) Stock Price Up 13.4%
Shares of Tidewater Inc. (NYSE:TDW) rose 13.4% during mid-day trading on Monday . The stock traded as high as $4.56 and last traded at $4.48, with a volume of 1,301,465 shares changing hands. The stock had previously closed at $3.95.
TDW has been the subject of several recent research reports. Zacks Investment Research raised Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Wednesday, April 20th. Johnson Rice lowered Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday. Argus reissued a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Finally, Iberia Capital lowered Tidewater from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $8.00 to $4.00 in a report on Friday, May 27th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.00.
The stock’s market cap is $165.91 million. The company has a 50 day moving average price of $4.51 and a 200-day moving average price of $5.95.
Tidewater (NYSE:TDW) last issued its earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.74) by $1.15. The company earned $167.90 million during the quarter, compared to the consensus estimate of $169.75 million. Tidewater’s revenue was down 44.9% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Analysts anticipate that Tidewater Inc. will post ($3.36) EPS for the current fiscal year.
An institutional investor recently raised its position in Tidewater stock. New York State Common Retirement Fund increased its position in shares of Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 226,965 shares of the company’s stock after buying an additional 48,445 shares during the period. New York State Common Retirement Fund owned 0.48% of Tidewater worth $1,580,000 as of its most recent filing with the SEC.
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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