Tidewater Inc. (NYSE:TDW) Receives Average Rating of “Hold” from Brokerages

Tidewater Inc. (NYSE:TDWGet Free Report) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $89.3333.

Several research analysts have issued reports on TDW shares. Fearnley Fonds upgraded Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Pickering Energy Partners upgraded shares of Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Zacks Research lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of Tidewater from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Finally, Barclays lifted their price target on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th.

Read Our Latest Analysis on Tidewater

Tidewater Stock Up 0.3%

NYSE TDW opened at $77.28 on Friday. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The stock’s 50 day moving average is $73.33 and its two-hundred day moving average is $74.16. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 12.95 and a beta of 0.53. Tidewater has a 1-year low of $46.65 and a 1-year high of $93.13.

Tidewater (NYSE:TDWGet Free Report) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). The company had revenue of $326.22 million during the quarter, compared to analyst estimates of $322.83 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.83 earnings per share. Equities analysts forecast that Tidewater will post 3.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC raised its position in Tidewater by 104.3% in the 4th quarter. Cerity Partners LLC now owns 1,142,935 shares of the oil and gas company’s stock valued at $57,730,000 after purchasing an additional 583,607 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Tidewater in the fourth quarter valued at $21,922,000. Keybank National Association OH acquired a new stake in shares of Tidewater in the first quarter valued at $25,456,000. Canoe Financial LP bought a new position in shares of Tidewater in the first quarter valued at about $22,960,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. raised its holdings in shares of Tidewater by 631.6% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 282,838 shares of the oil and gas company’s stock valued at $23,631,000 after buying an additional 244,178 shares during the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

About Tidewater

(Get Free Report)

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.

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