Tidewater Inc. (NYSE:TDW) Receives $67.50 Consensus Target Price from Brokerages

Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $67.50.

Several research firms have recently weighed in on TDW. Fearnley Fonds raised Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Evercore ISI reduced their price target on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research note on Monday, December 29th. Zacks Research downgraded shares of Tidewater from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. Finally, Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th.

Institutional Investors Weigh In On Tidewater

Large investors have recently modified their holdings of the stock. Bogart Wealth LLC raised its holdings in shares of Tidewater by 28.6% during the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 200 shares during the period. Parkside Financial Bank & Trust grew its position in Tidewater by 23.5% in the third quarter. Parkside Financial Bank & Trust now owns 1,073 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 204 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Tidewater by 4.0% during the third quarter. Lido Advisors LLC now owns 5,360 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 208 shares during the period. Ameritas Investment Partners Inc. lifted its position in shares of Tidewater by 4.5% during the second quarter. Ameritas Investment Partners Inc. now owns 5,165 shares of the oil and gas company’s stock worth $238,000 after purchasing an additional 224 shares in the last quarter. Finally, Altfest L J & Co. Inc. boosted its stake in shares of Tidewater by 2.0% in the third quarter. Altfest L J & Co. Inc. now owns 13,568 shares of the oil and gas company’s stock valued at $724,000 after purchasing an additional 272 shares during the period. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Down 0.3%

Shares of NYSE TDW opened at $56.50 on Monday. The stock has a market capitalization of $2.80 billion, a PE ratio of 19.02 and a beta of 0.63. The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average of $53.95 and a 200-day moving average of $53.50. Tidewater has a 52-week low of $31.17 and a 52-week high of $64.07.

Tidewater (NYSE:TDW) last issued its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. During the same period last year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts anticipate that Tidewater will post 3.25 EPS for the current year.

About Tidewater

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.