Analysts Set Tidewater Inc. (TDW) Target Price at $7.17
Shares of Tidewater Inc. (NYSE:TDW) have been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the stock. Four investment analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $6.29.
TDW has been the topic of several research reports. Johnson Rice lowered Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Credit Suisse Group AG set a $1.00 price target on Tidewater and gave the company a “hold” rating in a research note on Tuesday. Argus lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. Morgan Stanley set a $4.50 price target on Tidewater and gave the company a “sell” rating in a research note on Thursday, August 11th. Finally, Zacks Investment Research lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th.
Tidewater (NYSE:TDW) opened at 1.75 on Tuesday. Tidewater has a 1-year low of $1.44 and a 1-year high of $11.58. The firm’s 50-day moving average price is $2.41 and its 200 day moving average price is $4.22. The stock’s market cap is $82.37 million.
Tidewater (NYSE:TDW) last issued its quarterly earnings results on Monday, November 7th. The company reported ($3.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by $2.71. Tidewater had a negative net margin of 51.66% and a negative return on equity of 5.74%. The firm had revenue of $143.70 million for the quarter, compared to analyst estimates of $157.64 million. During the same period last year, the company earned ($0.02) EPS. The company’s revenue was down 47.1% compared to the same quarter last year. Equities research analysts expect that Tidewater will post ($4.33) EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake in Tidewater by 20.3% in the second quarter. California Public Employees Retirement System now owns 511,746 shares of the company’s stock worth $2,257,000 after buying an additional 86,500 shares in the last quarter. Emerald Acquisition Ltd. purchased a new position in Tidewater during the second quarter worth about $6,404,000. Quantitative Investment Management LLC purchased a new position in Tidewater during the second quarter worth about $198,000. Bank of New York Mellon Corp increased its position in Tidewater by 15.4% in the second quarter. Bank of New York Mellon Corp now owns 725,787 shares of the company’s stock worth $3,200,000 after buying an additional 96,967 shares during the last quarter. Finally, Kanawha Capital Management LLC increased its position in Tidewater by 2.0% in the second quarter. Kanawha Capital Management LLC now owns 85,450 shares of the company’s stock worth $377,000 after buying an additional 1,700 shares during the last quarter.
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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