Tidewater (TDW) to Release Earnings on Tuesday

Tidewater (NYSE:TDW) is scheduled to post its quarterly earnings results after the market closes on Tuesday, August 6th. Analysts expect Tidewater to post earnings of $0.72 per share for the quarter.

Tidewater (NYSE:TDW) last issued its earnings results on Thursday, May 2nd. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.40. The company had revenue of $321.20 million during the quarter, compared to the consensus estimate of $312.05 million. Tidewater had a net margin of 11.73% and a return on equity of 16.24%. Tidewater’s quarterly revenue was up 66.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Stock Up 3.6 %

Shares of TDW stock opened at $98.96 on Thursday. The stock has a market cap of $5.22 billion, a P/E ratio of 39.43 and a beta of 1.20. Tidewater has a 52 week low of $54.53 and a 52 week high of $111.42. The company has a quick ratio of 1.74, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $98.47 and its two-hundred day simple moving average is $89.75.

Tidewater announced that its Board of Directors has approved a stock repurchase program on Thursday, May 2nd that authorizes the company to repurchase $18.10 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to reacquire up to 0.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Separately, BTIG Research upped their target price on shares of Tidewater from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, May 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.33.

Insiders Place Their Bets

In other Tidewater news, Director Darron M. Anderson sold 1,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $102.11, for a total value of $178,692.50. Following the transaction, the director now directly owns 41,447 shares in the company, valued at approximately $4,232,153.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Quintin Kneen sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $109.01, for a total transaction of $16,351,500.00. Following the transaction, the chief executive officer now directly owns 501,718 shares in the company, valued at $54,692,279.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Darron M. Anderson sold 1,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $102.11, for a total transaction of $178,692.50. Following the transaction, the director now owns 41,447 shares in the company, valued at $4,232,153.17. The disclosure for this sale can be found here. Insiders have sold 733,926 shares of company stock worth $78,328,615 in the last three months. Corporate insiders own 8.33% of the company’s stock.

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.