Tidewater Inc. (TDW) Sees Strong Trading Volume
Tidewater Inc. (NYSE:TDW) shares saw unusually-strong trading volume on Thursday . Approximately 2,461,621 shares were traded during trading, an increase of 39% from the previous session’s volume of 1,776,702 shares.The stock last traded at $3.39 and had previously closed at $3.50.
A number of equities research analysts recently commented on TDW shares. Zacks Investment Research upgraded shares of Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Wednesday, April 20th. Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $8.00 to $4.00 in a report on Friday, May 27th. Argus restated a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Johnson Rice lowered shares of Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley set a $4.50 price objective on shares of Tidewater and gave the stock a “sell” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $11.25.
The company has a 50 day moving average of $4.39 and a 200 day moving average of $5.90. The company’s market capitalization is $152.50 million.
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 Thomson Reuters’ consensus estimate of ($0.74) by $1.15. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company had revenue of $167.90 million for the quarter, compared to analyst estimates of $169.75 million. The firm’s quarterly revenue was down 44.9% compared to the same quarter last year. On average, analysts forecast that Tidewater Inc. will post ($3.73) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Tidewater stock. New York State Common Retirement Fund increased its stake in Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 approximately 0.48% of Tidewater worth $1,580,000 as of its most recent SEC filing.
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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