Tidewater (NYSE:TDW) Issues Earnings Results

Tidewater (NYSE:TDW) posted its quarterly earnings data on Friday. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24, Briefing.com reports. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share.

Tidewater Stock Up 0.8 %

Shares of NYSE TDW opened at $41.44 on Friday. Tidewater has a 1 year low of $31.17 and a 1 year high of $110.06. The stock has a market capitalization of $2.11 billion, a P/E ratio of 12.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company has a 50-day moving average price of $38.55 and a 200-day moving average price of $48.19.

Insiders Place Their Bets

In other news, Director Robert Robotti bought 1,770 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $40.95 per share, with a total value of $72,481.50. Following the transaction, the director now directly owns 2,183,670 shares in the company, valued at $89,421,286.50. This represents a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TDW shares. Raymond James dropped their price target on Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $112.00 to $68.00 in a report on Wednesday, January 15th. Finally, Pickering Energy Partners cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Tidewater presently has an average rating of “Hold” and a consensus target price of $69.33.

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.