Tidewater (TDW) Set to Announce Quarterly Earnings on Thursday

Tidewater (NYSE:TDW) will issue its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Tidewater (NYSE:TDW) last released its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Tidewater had a return on equity of 13.37% and a net margin of 9.62%. The firm had revenue of $302.66 million during the quarter, compared to analysts’ expectations of $309.46 million. During the same period in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 62.1% compared to the same quarter last year. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Stock Performance

NYSE:TDW opened at $91.84 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The business has a fifty day simple moving average of $87.93 and a two-hundred day simple moving average of $73.66. Tidewater has a 1 year low of $39.41 and a 1 year high of $101.10. The company has a market capitalization of $4.80 billion, a P/E ratio of 50.19 and a beta of 1.20.

Tidewater announced that its board has initiated a share buyback program on Thursday, February 29th that permits the company to repurchase $48.60 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO David E. Darling sold 17,821 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the completion of the transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at $7,055,514.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, COO David E. Darling sold 17,821 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the completion of the transaction, the chief operating officer now directly owns 85,959 shares in the company, valued at $7,055,514.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The disclosure for this sale can be found here. Insiders sold a total of 45,462 shares of company stock worth $3,716,739 over the last ninety days. 9.59% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TDW has been the subject of a number of recent research reports. Pickering Energy Partners initiated coverage on Tidewater in a research report on Tuesday, January 30th. They issued an “outperform” rating for the company. Evercore ISI raised their target price on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. Johnson Rice began coverage on Tidewater in a research report on Friday, February 9th. They issued a “buy” rating and a $88.00 price target for the company. BTIG Research lifted their price target on Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Finally, StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $93.00.

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.