Tidewater Renewables (TSE:LCFS) Reaches New 1-Year High – Still a Buy?

Shares of Tidewater Renewables Ltd. (TSE:LCFS) hit a new 52-week high on Wednesday. The company traded as high as C$24.11 and last traded at C$23.87, with a volume of 4670 shares changing hands. The stock had previously closed at C$23.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on LCFS shares. Royal Bank Of Canada raised shares of Tidewater Renewables from a “sector perform” rating to an “outperform” rating and raised their target price for the company from C$12.50 to C$25.00 in a research note on Friday, August 14th. ATB Cormark Capital Markets increased their price target on Tidewater Renewables from C$16.00 to C$19.00 and gave the company a “speculative buy” rating in a report on Friday, August 14th. Finally, National Bank Financial raised their price objective on Tidewater Renewables from C$13.25 to C$22.75 and gave the company an “outperform” rating in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$22.25.

Tidewater Renewables Stock Performance

The stock has a market cap of C$880.88 million, a PE ratio of 94.05 and a beta of -0.59. The stock has a fifty day simple moving average of C$18.91 and a two-hundred day simple moving average of C$13.46. The company has a debt-to-equity ratio of 109.35, a quick ratio of 0.10 and a current ratio of 1.13.

Tidewater Renewables (TSE:LCFS) last posted its quarterly earnings data on Thursday, August 13th. The company reported C$0.13 earnings per share (EPS) for the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. The company had revenue of C$160.60 million for the quarter. Equities analysts anticipate that Tidewater Renewables Ltd. will post 0.15 EPS for the current fiscal year.

Tidewater Renewables Company Profile

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.