Q1 2024 Earnings Forecast for Tidewater Midstream and Infrastructure Ltd. Issued By Atb Cap Markets (TSE:TWM)

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) – Analysts at Atb Cap Markets reduced their Q1 2024 EPS estimates for shares of Tidewater Midstream and Infrastructure in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now anticipates that the company will earn ($0.01) per share for the quarter, down from their prior forecast of $0.01. The consensus estimate for Tidewater Midstream and Infrastructure’s current full-year earnings is $0.08 per share. Atb Cap Markets also issued estimates for Tidewater Midstream and Infrastructure’s FY2024 earnings at $0.04 EPS.

Tidewater Midstream and Infrastructure (TSE:TWM) last issued its quarterly earnings results on Thursday, March 14th. The company reported C($0.04) EPS for the quarter, missing analysts’ consensus estimates of C($0.01) by C($0.03). The business had revenue of C$503.00 million for the quarter. Tidewater Midstream and Infrastructure had a negative net margin of 17.48% and a negative return on equity of 73.46%.

Several other research firms have also recently weighed in on TWM. CIBC cut shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$1.50 to C$1.10 in a research report on Friday, March 15th. Scotiabank reduced their price objective on Tidewater Midstream and Infrastructure from C$1.50 to C$1.10 in a research report on Friday, March 15th. National Bankshares dropped their target price on Tidewater Midstream and Infrastructure from C$1.10 to C$1.00 in a research report on Friday, March 15th. Stifel Nicolaus reduced their price target on Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a “hold” rating for the company in a report on Thursday. Finally, Royal Bank of Canada dropped their price objective on Tidewater Midstream and Infrastructure from C$1.50 to C$1.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Tidewater Midstream and Infrastructure currently has an average rating of “Moderate Buy” and an average target price of C$1.05.

Tidewater Midstream and Infrastructure Price Performance

TSE TWM opened at C$0.73 on Thursday. Tidewater Midstream and Infrastructure has a 1 year low of C$0.70 and a 1 year high of C$1.10. The stock has a market capitalization of C$312.59 million, a P/E ratio of -0.80, a P/E/G ratio of 0.64 and a beta of 1.80. The company has a debt-to-equity ratio of 233.13, a quick ratio of 0.55 and a current ratio of 0.65. The business’s fifty day moving average is C$0.80 and its two-hundred day moving average is C$0.92.

Insider Buying and Selling at Tidewater Midstream and Infrastructure

In other Tidewater Midstream and Infrastructure news, Senior Officer Jared Ian Arling Strom Gurevitch sold 50,000 shares of Tidewater Midstream and Infrastructure stock in a transaction on Friday, March 15th. The shares were sold at an average price of C$0.77, for a total transaction of C$38,500.00. Company insiders own 6.42% of the company’s stock.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.