Tidewater Inc. (NYSE:TDW) Stock Has Consensus Price Target of $98.25 According to Brokerages

Key Points

• Tidewater has a “Moderate Buy” consensus rating from nine analysts, with an average 12-month price target of $98.25. Ratings include four holds, four buys, and one strong buy.
• Tidewater shares opened at $87.31, while the company reported quarterly revenue of $342.29 million, exceeding estimates, but EPS of $0.43 fell short of the $0.46 consensus.
• Insiders sold 42,705 shares worth approximately $4.1 million over the past 90 days, while institutional investors own a substantial 95.13% of the company.

Tidewater Inc. (NYSE:TDW - Get Free Report) has received an average rating of "Moderate Buy" from the nine analysts that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $98.25.

Several equities analysts have recently commented on TDW shares. BTIG Research restated a "buy" rating and set a $120.00 price target on shares of Tidewater in a research report on Friday, October 9th. Barclays lifted their price objective on shares of Tidewater from $86.00 to $91.00 and gave the company an "equal weight" rating in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Tidewater from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, October 12th.

Tidewater Trading Up 2.4%

Shares of NYSE TDW opened at $87.31 on Friday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 17.67 and a beta of 0.60. Tidewater has a 12-month low of $49.49 and a 12-month high of $101.57. The company has a current ratio of 3.58, a quick ratio of 3.47 and a debt-to-equity ratio of 0.47. The stock's 50 day simple moving average is $87.22 and its 200 day simple moving average is $79.13.

Tidewater (NYSE:TDW - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The oil and gas company reported $0.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.46 by ($0.03). Tidewater had a net margin of 18.34% and a return on equity of 5.36%. The company had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. During the same quarter in the prior year, the firm earned $1.46 EPS. The company's revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts expect that Tidewater will post 3.08 EPS for the current year.

Insider Activity

In related news, Director Kenneth Traub sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $99.00, for a total value of $990,000.00. Following the completion of the transaction, the director directly owned 63,521 shares of the company's stock, valued at $6,288,579. This represents a 13.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Samuel R. Rubio sold 17,705 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $91.56, for a total value of $1,621,069.80. Following the completion of the sale, the executive vice president owned 33,214 shares in the company, valued at approximately $3,041,073.84. This represents a 34.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,705 shares of company stock valued at $4,097,270. Insiders own 5.90% of the company's stock.

Institutional Trading of Tidewater

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in shares of Tidewater during the first quarter worth approximately $26,000. Public Employees Retirement System of Ohio acquired a new position in Tidewater in the 2nd quarter valued at approximately $27,000. Salomon & Ludwin LLC increased its stake in Tidewater by 35.9% in the 3rd quarter. Salomon & Ludwin LLC now owns 492 shares of the oil and gas company's stock valued at $40,000 after buying an additional 130 shares during the period. Versant Capital Management Inc increased its stake in Tidewater by 142.6% in the 3rd quarter. Versant Capital Management Inc now owns 740 shares of the oil and gas company's stock valued at $60,000 after buying an additional 435 shares during the period. Finally, Covestor Ltd lifted its position in Tidewater by 34.2% in the 3rd quarter. Covestor Ltd now owns 781 shares of the oil and gas company's stock worth $63,000 after buying an additional 199 shares in the last quarter. Institutional investors own 95.13% of the company's stock.

About Tidewater

Tidewater Inc NYSE: TDW is an offshore support vessel operator that provides marine transportation and logistics services to the global energy industry. The company supports offshore exploration, development, production, construction and decommissioning activities, transporting personnel, equipment and supplies between shore bases and offshore installations.

Tidewater operates a diverse fleet of vessels, including platform supply vessels, anchor-handling vessels, fast supply vessels, crew boats, tugboats and vessels used for subsea construction, survey and other specialized offshore work.

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