Tidewater (NYSE:TDW) Announces Earnings Results

Tidewater (NYSE:TDW) posted its quarterly earnings results on Monday. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.37), FiscalAI reports. Tidewater had a return on equity of 5.36% and a net margin of 18.34%. The company had revenue of $360.42 million during the quarter, compared to analysts’ expectations of $358.77 million.

Tidewater Stock Performance

Shares of NYSE TDW traded up $0.92 during midday trading on Monday, reaching $70.97. 824,335 shares of the stock were exchanged, compared to its average volume of 738,004. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 14.37 and a beta of 0.63. The company has a quick ratio of 3.47, a current ratio of 3.58 and a debt-to-equity ratio of 0.47. The firm has a 50-day simple moving average of $85.34 and a two-hundred day simple moving average of $79.53. Tidewater has a twelve month low of $49.54 and a twelve month high of $101.57.

Insider Transactions at Tidewater

In other news, EVP Samuel Rubio sold 17,705 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total transaction of $1,621,069.80. Following the sale, the executive vice president directly owned 33,214 shares in the company, valued at $3,041,073.84. This trade represents a 34.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth Traub sold 10,000 shares of Tidewater stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the director owned 63,521 shares of the company’s stock, valued at approximately $6,288,579. This represents a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 42,705 shares of company stock valued at $4,097,270 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Tidewater from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, November 4th. Barclays upped their target price on Tidewater from $86.00 to $91.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. Finally, BTIG Research restated a “buy” rating and issued a $120.00 target price on shares of Tidewater in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.25.

Tidewater Company Profile

Tidewater Inc provides offshore support vessels and related marine services to the energy industry. Its vessels transport personnel, equipment and supplies between shore bases and offshore facilities, and support activities such as anchor handling, towing, platform operations and offshore construction.

The company operates a diverse fleet that includes platform supply vessels, anchor-handling tug supply vessels, crew boats and other specialized vessels. These services help customers carry out offshore exploration, development and production, as well as certain renewable-energy and subsea projects.

Founded in 1956, Tidewater has grown into an international vessel operator, serving offshore markets across regions including the Americas, Africa, the Middle East, Europe and Asia-Pacific.