Tidewater (TDW) Scheduled to Post Quarterly Earnings on Thursday

Tidewater (NYSE:TDW - Get Free Report) is scheduled to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Investors that wish to register for the company's conference call can do so using this link.

Tidewater (NYSE:TDW - Get Free Report) last issued its earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.03). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The firm had revenue of $302.66 million during the quarter, compared to analyst estimates of $309.46 million. During the same quarter last year, the business posted $0.30 earnings per share. The company's revenue for the quarter was up 62.1% on a year-over-year basis. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Stock Performance

NYSE:TDW traded up $2.50 during mid-day trading on Friday, hitting $95.72. The stock had a trading volume of 451,035 shares, compared to its average volume of 752,804. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 52.31 and a beta of 1.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.70 and a current ratio of 1.80. Tidewater has a twelve month low of $39.41 and a twelve month high of $101.10. The company's 50 day simple moving average is $86.35 and its 200 day simple moving average is $73.06.

Tidewater declared that its board has authorized a stock buyback plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 1.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at Tidewater

In other news, CFO Samuel R. Rubio sold 19,641 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the transaction, the chief financial officer now directly owns 98,036 shares of the company's stock, valued at $7,976,208.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Daniel A. Hudson sold 8,000 shares of Tidewater stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the transaction, the executive vice president now directly owns 104,312 shares of the company's stock, valued at $8,553,584. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Samuel R. Rubio sold 19,641 shares of Tidewater stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the completion of the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,462 shares of company stock valued at $3,716,739. 9.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TDW has been the topic of several research analyst reports. Evercore ISI increased their price target on shares of Tidewater from $87.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, March 4th. StockNews.com raised shares of Tidewater from a "sell" rating to a "hold" rating in a report on Monday, March 4th. Pickering Energy Partners initiated coverage on shares of Tidewater in a report on Tuesday, January 30th. They issued an "outperform" rating on the stock. Johnson Rice initiated coverage on shares of Tidewater in a report on Friday, February 9th. They issued a "buy" rating and a $88.00 price target on the stock. Finally, BTIG Research increased their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a "buy" rating in a report on Tuesday, March 19th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Tidewater presently has a consensus rating of "Buy" and an average price target of $93.00.

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.