Tidewater Inc. (NYSE:TDW) Receives Average Recommendation of “Hold” from Brokerages

Tidewater Inc. (NYSE:TDW) has been given an average rating of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $67.50.

Several equities analysts have recently weighed in on the stock. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Zacks Research upgraded Tidewater from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Finally, Evercore ISI reduced their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th.

Tidewater Stock Up 2.6%

TDW stock opened at $62.53 on Friday. The company has a market capitalization of $3.10 billion, a P/E ratio of 21.05 and a beta of 0.63. Tidewater has a 12 month low of $31.17 and a 12 month high of $64.88. The firm’s fifty day simple moving average is $55.27 and its 200-day simple moving average is $54.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The company had revenue of $341.11 million for the quarter, compared to analysts’ expectations of $328.84 million. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. As a group, equities research analysts forecast that Tidewater will post 3.25 earnings per share for the current year.

Institutional Trading of Tidewater

A number of institutional investors and hedge funds have recently modified their holdings of TDW. Federated Hermes Inc. acquired a new stake in Tidewater in the 2nd quarter worth about $28,199,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Tidewater in the fourth quarter worth approximately $21,922,000. American Century Companies Inc. raised its stake in 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 valued at $25,670,000 after purchasing an additional 414,454 shares during the last quarter. Boston Partners lifted its holdings in Tidewater by 1,118.5% in the 2nd quarter. Boston Partners now owns 283,676 shares of the oil and gas company’s stock valued at $14,089,000 after purchasing an additional 260,395 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake 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 worth $16,160,000 after purchasing an additional 230,706 shares during the last quarter. Hedge funds and other 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.