Tidewater Inc. (TDW) Stock Price Up 2.5%
Tidewater Inc. (NYSE:TDW) rose 2.5% during mid-day trading on Tuesday . The company traded as high as $3.40 and last traded at $3.32, with a volume of 1,188,971 shares changing hands. The stock had previously closed at $3.24.
TDW has been the subject of a number of analyst reports. Johnson Rice lowered shares of Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday, August 10th. Zacks Investment Research raised shares of Tidewater from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Wednesday, April 20th. Morgan Stanley set a $4.50 price objective on shares of Tidewater and gave the company a “sell” rating in a report on Thursday, August 11th. Argus reissued a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Finally, Iberia Capital lowered shares of Tidewater from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $8.00 to $4.00 in a report on Friday, May 27th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $11.25.
The stock has a 50 day moving average of $4.32 and a 200 day moving average of $5.88. The firm’s market cap is $156.26 million.
Tidewater (NYSE:TDW) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by $1.15. During the same period in the previous year, the business earned $0.18 earnings per share. The firm earned $167.90 million during the quarter, compared to analyst estimates of $169.75 million. The firm’s revenue was down 44.9% on a year-over-year basis. Equities analysts expect that Tidewater Inc. will post ($3.85) EPS for the current fiscal year.
An institutional investor recently raised its position in Tidewater stock. New York State Common Retirement Fund boosted its stake in shares of Tidewater Inc. (NYSE:TDW) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 about 0.48% of Tidewater worth $1,580,000 at the end of the most recent 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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