Tidewater Inc. (NYSE:TDW) Receives $89.33 Average Target Price from Analysts

Tidewater Inc. (NYSE:TDW) has received an average rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $89.3333.

A number of analysts have recently commented on the stock. Weiss Ratings upgraded shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, July 10th. Fearnley Fonds raised Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Finally, Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th.

Tidewater Stock Down 0.1%

TDW stock opened at $78.46 on Friday. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $93.13. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 13.14 and a beta of 0.53. The business’s 50 day moving average price is $73.25 and its two-hundred day moving average price is $74.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.22 and a current ratio of 3.33.

Tidewater (NYSE:TDW) last released its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The firm had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 EPS. As a group, analysts forecast that Tidewater will post 3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

Hedge funds have recently bought and sold shares of the business. State Street Corp increased its stake in Tidewater by 4.7% in the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company’s stock worth $96,064,000 after purchasing an additional 85,697 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Tidewater by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,838,769 shares of the oil and gas company’s stock worth $153,623,000 after purchasing an additional 86,084 shares in the last quarter. Cerity Partners LLC increased its holdings in Tidewater by 104.3% in the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after buying an additional 583,607 shares in the last quarter. Hosking Partners LLP raised its position in shares of Tidewater by 11.3% in the fourth quarter. Hosking Partners LLP now owns 650,785 shares of the oil and gas company’s stock worth $32,871,000 after acquiring an additional 65,875 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Tidewater by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company’s stock worth $28,148,000 after acquiring an additional 12,874 shares in the last quarter. Institutional investors own 95.13% of the company’s stock.

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.