Tidewater Inc. (NYSE:TDW) Given Consensus Rating of “Hold” by Analysts
Tidewater Inc. (NYSE:TDW) has received a consensus rating of “Hold” from the twelve ratings firms that are currently covering the firm. Three analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.25.
Several analysts recently commented on TDW shares. Johnson Rice cut shares of Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Argus reiterated a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Morgan Stanley set a $4.50 price objective on shares of Tidewater and gave the company a “sell” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th.
Tidewater (NYSE:TDW) traded down 1.9319% during mid-day trading on Tuesday, hitting $2.7361. 575,580 shares of the stock traded hands. The firm’s 50-day moving average is $3.09 and its 200-day moving average is $5.10. The company’s market cap is $128.78 million. Tidewater has a 12-month low of $2.16 and a 12-month high of $17.93.
Tidewater (NYSE:TDW) last issued its earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $1.15. The firm earned $167.90 million during the quarter, compared to analysts’ expectations of $169.75 million. Tidewater had a negative net margin of 27.81% and a negative return on equity of 3.68%. The firm’s revenue was down 44.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Equities research analysts expect that Tidewater will post ($4.27) EPS for the current year.
Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in Tidewater by 65.7% in the second quarter. Public Employees Retirement System of Ohio now owns 27,750 shares of the company’s stock worth $122,000 after buying an additional 11,002 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Tidewater by 33.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 618,357 shares of the company’s stock worth $2,727,000 after buying an additional 154,733 shares in the last quarter. Arizona State Retirement System raised its position in Tidewater by 1.2% in the second quarter. Arizona State Retirement System now owns 24,432 shares of the company’s stock worth $108,000 after buying an additional 300 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Tidewater during the second quarter worth $172,000. Finally, AQR Capital Management LLC purchased a new position in Tidewater during the second quarter worth $314,000.
Tidewater Company Profile
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations of offshore Mexico, Trinidad and Brazil.
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