Tidewater Inc. (TDW) Sets New 1-Year Low at $3.06
Tidewater Inc. (NYSE:TDW)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.06 and last traded at $3.15, with a volume of 737,821 shares. The stock had previously closed at $3.27.
A number of research firms have issued reports on TDW. Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $8.00 to $4.00 in a report on Friday, May 27th. Zacks Investment Research downgraded Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Argus reissued a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Morgan Stanley set a $4.50 target price on Tidewater and gave the stock a “sell” rating in a research note on Thursday, August 11th. Finally, Johnson Rice cut Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.25.
The company’s 50 day moving average is $3.92 and its 200-day moving average is $5.72. The firm’s market cap is $145.91 million.
Tidewater (NYSE:TDW) last issued its earnings results 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. During the same period in the previous year, the business posted $0.18 earnings per share. The business earned $167.90 million during 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. Equities analysts predict that Tidewater Inc. will post ($4.27) EPS 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.
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