Tidewater (NYSE:TDW) Cut to “Strong Sell” at Zacks Research

Zacks Research lowered shares of Tidewater (NYSE:TDW) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

TDW has been the topic of several other reports. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Wednesday, October 8th. Dnb Nor Markets downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Finally, Evercore ISI reduced their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.33.

Tidewater Stock Performance

TDW opened at $58.64 on Thursday. The company’s 50 day moving average is $53.48 and its 200 day moving average is $50.38. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 15.19 and a beta of 1.00. Tidewater has a 12-month low of $31.17 and a 12-month high of $64.07.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Monday, November 10th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). The business had revenue of $341.11 million during the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 earnings per share. Tidewater has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. On average, equities research analysts predict that Tidewater will post 3.25 EPS for the current year.

Tidewater declared that its board has authorized a share repurchase program on Monday, August 4th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Tidewater

Institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tidewater by 69.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company’s stock valued at $165,058,000 after purchasing an additional 1,598,513 shares during the last quarter. Federated Hermes Inc. purchased a new position in shares of Tidewater in the second quarter valued at $28,199,000. American Century Companies Inc. increased its holdings in shares of Tidewater by 291.8% in the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after buying an additional 414,454 shares during the last quarter. Boston Partners increased its stake in Tidewater by 1,118.5% during the second quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock worth $14,089,000 after acquiring an additional 260,395 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in Tidewater by 319.1% during the 3rd quarter. Victory Capital Management Inc. now owns 303,015 shares of the oil and gas company’s stock valued at $16,160,000 after buying an additional 230,706 shares during the period. 95.13% of the stock is owned by hedge funds and other institutional investors.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.