Tidewater Inc. (TDW) Shares Up 3.1%
Tidewater Inc. (NYSE:TDW) traded up 3.1% during mid-day trading on Wednesday . The stock traded as high as $3.28 and last traded at $3.28, with a volume of 456,951 shares trading hands. The stock had previously closed at $3.18.
Several equities research analysts recently issued reports on the company. Morgan Stanley set a $4.50 price objective on Tidewater and gave the company a “sell” rating in a report on Thursday, August 11th. Zacks Investment Research downgraded Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Johnson Rice downgraded Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday, August 10th. Argus reiterated a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Finally, Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $8.00 to $4.00 in a report on Friday, May 27th. Three analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.25.
The firm’s market capitalization is $154.38 million. The stock has a 50-day moving average of $3.97 and a 200-day moving average of $5.74.
Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) EPS for the quarter, missing the consensus estimate of ($0.74) by $1.15. During the same quarter in the previous year, the business earned $0.18 earnings per share. The business earned $167.90 million during the quarter, compared to the consensus estimate of $169.75 million. Tidewater’s revenue for the quarter was down 44.9% compared to the same quarter last year. Equities analysts predict that Tidewater Inc. will post ($4.27) earnings per share for the current 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.
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