Tidewater (NYSE:TDW) announced its quarterly earnings results on Friday. The oil and gas company reported ($0.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.44, Briefing.com reports. The business had revenue of $125.86 million for the quarter, compared to analysts’ expectations of $131.77 million. Tidewater had a negative return on equity of 12.15% and a negative net margin of 35.24%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.44) EPS.
Shares of TDW stock traded down $1.94 during mid-day trading on Monday, hitting $16.90. 231,247 shares of the stock traded hands, compared to its average volume of 188,271. Tidewater has a twelve month low of $16.75 and a twelve month high of $36.09. The stock has a market capitalization of $712.77 million, a price-to-earnings ratio of -2.62 and a beta of 1.41. The stock’s 50-day simple moving average is $21.93. The company has a current ratio of 4.32, a quick ratio of 4.13 and a debt-to-equity ratio of 0.38.
In other news, Director Dick Fagerstal purchased 4,400 shares of the stock in a transaction dated Monday, May 20th. The shares were bought at an average cost of $24.30 per share, for a total transaction of $106,920.00. Following the transaction, the director now owns 21,541 shares in the company, valued at $523,446.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John T. Rynd purchased 2,500 shares of the stock in a transaction dated Friday, May 24th. The shares were purchased at an average price of $23.30 per share, for a total transaction of $58,250.00. Following the completion of the transaction, the chief executive officer now owns 90,774 shares in the company, valued at approximately $2,115,034.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 9,400 shares of company stock worth $227,545. 0.47% of the stock is owned by insiders.
Several analysts recently commented on TDW shares. TheStreet upgraded Tidewater from a “d+” rating to a “c-” rating in a research report on Tuesday, May 14th. ValuEngine upgraded Tidewater from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 1st.
Tidewater Inc provides offshore marine support and transportation services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore exploration, field development, and production, 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; and various specialized services, such as pipe and cable laying.
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