Tidewater Inc. (TDW) Hits New 12-Month Low at $3.12
Tidewater Inc. (NYSE:TDW)’s share price hit a new 52-week low on Thursday . The company traded as low as $3.12 and last traded at $3.14, with a volume of 443,856 shares traded. The stock had previously closed at $3.18.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research lowered Tidewater from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Johnson Rice lowered Tidewater from an “accumulate” rating to a “hold” rating in a research report on Wednesday, August 10th. Argus reaffirmed a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Iberia Capital lowered Tidewater from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $8.00 to $4.00 in a research report on Friday, May 27th. Finally, Morgan Stanley set a $4.50 price target on Tidewater and gave the company a “sell” rating in a research report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Tidewater currently has an average rating of “Hold” and an average target price of $11.25.
The firm’s market capitalization is $145.91 million. The stock’s 50-day moving average price is $4.12 and its 200 day moving average price is $5.79.
Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.74) by $1.15. The firm earned $167.90 million during the quarter, compared to analysts’ expectations of $169.75 million. The business’s revenue was down 44.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.18 EPS. Analysts expect that Tidewater Inc. will post ($4.13) earnings per share for the current fiscal year.
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.