Tidewater Inc. (NYSE:TDW) Receives $89.33 Average Target Price from Brokerages

Tidewater Inc. (NYSE:TDW) has been assigned a consensus rating of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $89.3333.

A number of equities research analysts have recently issued reports on TDW shares. Barclays upped their target price 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. Weiss Ratings lowered shares of Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 24th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research report on Thursday, June 11th. Zacks Research cut Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Finally, Fearnley Fonds upgraded shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 5th.

Tidewater Trading Down 0.3%

Shares of Tidewater stock opened at $67.94 on Monday. Tidewater has a 12-month low of $45.71 and a 12-month high of $93.13. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 11.38 and a beta of 0.53. The company has a fifty day simple moving average of $76.18 and a 200-day simple moving average of $71.77.

Tidewater (NYSE:TDW) last announced its quarterly earnings data on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.63). The firm had revenue of $326.22 million for the quarter, compared to the consensus estimate of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. On average, equities analysts forecast that Tidewater will post 3.52 EPS for the current fiscal year.

Institutional Trading of Tidewater

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC increased its stake in shares of Tidewater by 1.2% during the first quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock valued at $947,000 after buying an additional 131 shares during the period. Lido Advisors LLC increased its holdings in Tidewater by 2.8% in the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock valued at $290,000 after buying an additional 149 shares during the last quarter. Clearstead Advisors LLC boosted its stake in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 158 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Tidewater by 15.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after buying an additional 166 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Tidewater by 1.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other 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.