Tidewater (NYSE:TDW) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research downgraded shares of Tidewater (NYSE:TDW) from a hold rating to a strong sell rating in a research note published on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Wednesday, October 8th. Evercore ISI lowered their price objective on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Finally, Fearnley Fonds upgraded Tidewater to a “hold” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Tidewater presently has a consensus rating of “Hold” and an average target price of $68.33.

Tidewater Stock Up 2.0%

Tidewater stock traded up $1.18 during midday trading on Thursday, reaching $58.64. The stock had a trading volume of 854,694 shares, compared to its average volume of 990,728. The firm’s fifty day simple moving average is $53.48 and its 200-day simple moving average is $50.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.11. The stock has a market capitalization of $2.91 billion, a P/E ratio of 15.19 and a beta of 1.00. Tidewater has a 1-year low of $31.17 and a 1-year high of $64.07.

Tidewater (NYSE:TDW) last released its earnings results on Monday, November 10th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. During the same quarter in the previous year, the company posted $0.87 EPS. The business’s revenue was up .2% on a year-over-year basis. Tidewater has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. As a group, analysts expect that Tidewater will post 3.25 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a share repurchase plan on Monday, August 4th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 21.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Tidewater

Institutional investors have recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in shares of Tidewater in the first quarter worth approximately $5,642,000. Dakota Wealth Management bought a new position in shares of Tidewater in the 2nd quarter worth approximately $848,000. Gallacher Capital Management LLC grew its stake in Tidewater by 112.2% in the second quarter. Gallacher Capital Management LLC now owns 12,183 shares of the oil and gas company’s stock worth $562,000 after purchasing an additional 6,442 shares during the period. Victory Capital Management Inc. grew its position in shares of Tidewater by 22.5% in the 1st quarter. Victory Capital Management Inc. now owns 55,995 shares of the oil and gas company’s stock worth $2,367,000 after buying an additional 10,301 shares during the period. Finally, South Dakota Investment Council bought a new position in shares of Tidewater during the second quarter valued at approximately $1,173,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Company Profile

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.