Tidewater Inc. (NYSE:TDW) Given Average Recommendation of “Hold” by Brokerages

Tidewater Inc. (NYSE:TDW) has been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $89.3333.

Several equities research analysts have issued reports on TDW shares. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, June 24th. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Finally, Barclays upped their price objective on Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th.

Tidewater Price Performance

Shares of TDW opened at $67.94 on Monday. The company’s 50-day moving average is $76.18 and its 200-day moving average is $71.88. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.33 and a quick ratio of 3.22. The firm has a market capitalization of $3.38 billion, a PE ratio of 11.38 and a beta of 0.53. Tidewater has a fifty-two week low of $45.71 and a fifty-two week high of $93.13.

Tidewater (NYSE:TDW) last announced its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. During the same period in the previous year, the firm posted $0.83 EPS. The business’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts forecast that Tidewater will post 3.52 EPS for the current year.

Hedge Funds Weigh In On Tidewater

Several institutional investors and hedge funds have recently modified their holdings of TDW. Blue Trust Inc. acquired a new stake in Tidewater in the 1st quarter worth about $26,000. Clearstead Advisors LLC raised its position in shares of Tidewater by 22.2% in the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Tidewater by 701.6% in the second quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after buying an additional 870 shares during the period. Headlands Technologies LLC bought a new stake in shares of Tidewater in the second quarter valued at approximately $47,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Tidewater during the fourth quarter worth approximately $53,000. 95.13% of the stock is currently owned by institutional investors and hedge funds.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.