Shares of Tidewater Inc. (NYSE:TDW – Get Free Report) have been given a consensus rating of “Hold” by the nine ratings firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to 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.
TDW has been the topic of a number of research reports. Fearnley Fonds raised shares of Tidewater from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 5th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday, March 3rd. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Tidewater in a research note on Monday, June 1st. Finally, Zacks Research downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th.
Check Out Our Latest Stock Analysis on TDW
Tidewater Stock Performance
Tidewater (NYSE:TDW – Get Free Report) last issued its earnings results on Monday, May 4th. The oil and gas company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The business had revenue of $326.22 million during the quarter, compared to analysts’ expectations of $322.83 million. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts anticipate that Tidewater will post 3.52 EPS for the current year.
Institutional Investors Weigh In On Tidewater
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Tidewater by 22.6% in the 1st quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after purchasing an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tidewater by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after purchasing an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Tidewater by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock worth $1,895,000 after purchasing an additional 1,931 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Tidewater by 4.1% in the 2nd quarter. Cetera Investment Advisers now owns 8,010 shares of the oil and gas company’s stock worth $370,000 after purchasing an additional 314 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Tidewater by 12.1% in the 2nd quarter. Invesco Ltd. now owns 227,443 shares of the oil and gas company’s stock worth $10,492,000 after purchasing an additional 24,609 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.
About Tidewater
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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