Tidewater Renewables (TSE:LCFS) Reaches New 1-Year High – Time to Buy?

Tidewater Renewables Ltd. (TSE:LCFS) reached a new 52-week high on Friday. The company traded as high as C$24.52 and last traded at C$23.74, with a volume of 16306 shares trading hands. The stock had previously closed at C$22.74.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LCFS. Royal Bank Of Canada raised Tidewater Renewables from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$12.50 to C$25.00 in a report on Friday, August 14th. National Bank Financial upped their price target on Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, ATB Cormark Capital Markets lifted their price objective on Tidewater Renewables from C$16.00 to C$19.00 and gave the company a “speculative buy” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Tidewater Renewables presently has a consensus rating of “Buy” and a consensus target price of C$22.25.

Tidewater Renewables Stock Up 5.0%

The firm has a fifty day moving average price of C$19.88 and a 200 day moving average price of C$14.28. The firm has a market capitalization of C$872.11 million, a price-to-earnings ratio of 94.05 and a beta of -1.03. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 109.35.

Tidewater Renewables (TSE:LCFS) last announced its earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The company had revenue of C$160.60 million during the quarter. Sell-side analysts anticipate that Tidewater Renewables Ltd. will post 0.15 EPS for the current fiscal year.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.