Tidewater (NYSE:TDW) Downgraded to Hold Rating by Zacks Research

Zacks Research lowered shares of Tidewater (NYSE:TDW) from a strong-buy rating to a hold rating in a research note published on Tuesday morning,Zacks.com reports.

Several other analysts have also commented on the stock. Raymond James Financial set a $117.00 price objective on shares of Tidewater in a report on Tuesday, March 3rd. Dawson James restated an “outperform” rating on shares of Tidewater in a report on Tuesday, March 3rd. Finally, Barclays raised their price objective on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.33.

Tidewater Price Performance

TDW stock opened at $84.51 on Tuesday. The firm’s 50-day moving average price is $82.41 and its two-hundred day moving average price is $68.15. Tidewater has a 12-month low of $38.24 and a 12-month high of $93.13. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 14.16 and a beta of 0.57. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48.

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

Insider Activity

In related news, EVP Daniel A. Hudson sold 5,195 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $80.56, for a total transaction of $418,509.20. Following the sale, the executive vice president owned 45,971 shares of the company’s stock, valued at $3,703,423.76. The trade was a 10.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Samuel R. Rubio sold 22,461 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $80.05, for a total transaction of $1,798,003.05. Following the sale, the executive vice president directly owned 60,066 shares in the company, valued at $4,808,283.30. The trade was a 27.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 42,656 shares of company stock valued at $3,379,012 over the last 90 days. 5.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tidewater

Several hedge funds have recently bought and sold shares of TDW. Cerity Partners LLC boosted its stake in Tidewater by 104.3% during the fourth quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock worth $57,730,000 after acquiring an additional 583,607 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Tidewater during the fourth quarter worth about $21,922,000. American Century Companies Inc. boosted its stake in Tidewater by 74.2% during the third quarter. American Century Companies Inc. now owns 969,392 shares of the oil and gas company’s stock worth $51,698,000 after acquiring an additional 412,911 shares in the last quarter. Keybank National Association OH bought a new stake in Tidewater during the first quarter worth about $25,456,000. Finally, Canoe Financial LP bought a new stake in Tidewater during the first quarter worth about $22,960,000. 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.