Tidewater (NYSE:TDW) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Tidewater (NYSE:TDWGet Free Report) posted its earnings results on Monday. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.03), FiscalAI reports. The firm had revenue of $342.29 million during the quarter, compared to analyst estimates of $329.97 million. Tidewater had a net margin of 18.34% and a return on equity of 5.46%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.46 earnings per share.

Tidewater Stock Up 0.4%

Shares of NYSE TDW opened at $84.49 on Wednesday. Tidewater has a 52-week low of $46.65 and a 52-week high of $93.13. The company’s 50-day simple moving average is $72.42 and its 200-day simple moving average is $75.32. The company has a quick ratio of 3.22, a current ratio of 3.33 and a debt-to-equity ratio of 0.48. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 14.15 and a beta of 0.53.

Hedge Funds Weigh In On Tidewater

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Tidewater by 701.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 994 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 870 shares during the last quarter. Headlands Technologies LLC purchased a new position in Tidewater in the second quarter worth approximately $47,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Tidewater during the 4th quarter worth $53,000. Arax Advisory Partners purchased a new position in Tidewater during the fourth quarter worth about $55,000. Finally, Wexford Capital LP purchased a new stake in Tidewater in the third quarter valued at approximately $56,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a report on Friday, June 5th. Barclays increased their target price on shares of Tidewater from $80.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Pickering Energy Partners upgraded Tidewater from an “underperform” rating to a “neutral” rating in a research note on Thursday, June 11th. Weiss Ratings cut Tidewater from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 28th. Finally, Zacks Research downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Check Out Our Latest Analysis on Tidewater

Tidewater Company Profile

(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.

See Also

Earnings History for Tidewater (NYSE:TDW)

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