Analysts Set Tidewater Inc. (NYSE:TDW) PT at $69.00

Shares of Tidewater Inc. (NYSE:TDW) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $69.00.

Several research analysts have recently weighed in on TDW shares. Fearnley Fonds raised shares of Tidewater to a “hold” rating in a report on Tuesday, September 16th. Evercore ISI upped their target price on shares of Tidewater from $60.00 to $67.00 and gave the company an “in-line” rating in a report on Wednesday, August 6th. BTIG Research cut shares of Tidewater from a “buy” rating to a “neutral” rating in a report on Monday, July 14th. Zacks Research raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Saturday, September 27th.

Insider Activity at Tidewater

In other news, EVP Daniel A. Hudson sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the transaction, the executive vice president owned 75,986 shares of the company’s stock, valued at $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Tidewater by 2,321.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after buying an additional 650 shares during the period. Bogart Wealth LLC bought a new position in shares of Tidewater in the first quarter worth about $30,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Tidewater in the first quarter worth about $40,000. Parkside Financial Bank & Trust raised its stake in shares of Tidewater by 4,245.0% in the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after buying an additional 849 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Tidewater by 2,510.5% in the first quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after buying an additional 954 shares during the period. Institutional investors own 95.13% of the company’s stock.

Tidewater Stock Up 1.0%

TDW opened at $53.28 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $56.68 and a 200-day moving average price of $47.37. Tidewater has a twelve month low of $31.17 and a twelve month high of $73.31. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 13.80 and a beta of 1.05.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.95. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The firm had revenue of $341.43 million during the quarter, compared to analysts’ expectations of $317.28 million. During the same period in the previous year, the company earned $0.94 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. Equities research analysts forecast that Tidewater will post 3.25 earnings per share for the current year.

Tidewater declared that its board has approved a stock repurchase program on Monday, August 4th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Tidewater Company Profile

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.