Tidewater (NYSE:TDW) Sets New 52-Week High – Here’s Why

Tidewater Inc. (NYSE:TDW) hit a new 52-week high on Monday . The company traded as high as $65.14 and last traded at $64.9650, with a volume of 495206 shares changing hands. The stock had previously closed at $62.49.

Wall Street Analysts Forecast Growth

TDW has been the topic of a number of analyst reports. Evercore ISI dropped their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research report on Wednesday, November 12th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Dnb Nor Markets cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.50.

Tidewater Price Performance

The firm has a 50-day moving average of $56.24 and a 200 day moving average of $55.06. The company has a market capitalization of $3.35 billion, a PE ratio of 22.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, November 11th. 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 net margin of 11.14% and a return on equity of 14.86%. 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 prior year, the company posted $0.87 EPS. Tidewater’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently modified their holdings of the company. Blume Capital Management Inc. grew its holdings in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 295 shares during the period. Hantz Financial Services Inc. grew its stake in shares of Tidewater by 401.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 413 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Tidewater by 4,245.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 849 shares during the period. Bogart Wealth LLC increased its position 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 purchasing an additional 200 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 422 shares during the period. 95.13% of the stock is owned by institutional investors.

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.