Tidewater (NYSE:TDW) Issues Quarterly Earnings Results

Tidewater (NYSE:TDW) posted its quarterly earnings data on Friday. The oil and gas company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.24, Briefing.com reports. Tidewater had a net margin of 13.92% and a return on equity of 18.16%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.89 earnings per share.

Tidewater Price Performance

Tidewater stock opened at $41.17 on Friday. The stock’s fifty day moving average price is $38.57 and its two-hundred day moving average price is $48.43. The firm has a market cap of $2.09 billion, a PE ratio of 12.11 and a beta of 1.00. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater has a one year low of $31.17 and a one year high of $110.06.

Wall Street Analyst Weigh In

A number of brokerages have commented on TDW. Raymond James cut their price target on shares of Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Evercore ISI cut shares of Tidewater from an “outperform” rating to an “in-line” rating and cut their target price for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Pickering Energy Partners lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $84.50.

Insider Transactions at Tidewater

In other news, Director Robert Robotti acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now directly owns 2,208,670 shares of the company’s stock, valued at $88,589,753.70. The trade was a 1.14 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.33% of the stock is currently owned by insiders.

About Tidewater

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.