Tidewater Inc. (NYSE:TDW) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analyst consensus is “Hold” for Tidewater, with six hold ratings, two buys and one strong buy. The average 12-month price target is $91, below the stock’s reported price of $93.99.
• Tidewater’s latest quarterly EPS of $0.43 missed the $0.46 consensus estimate, although revenue of $342.29 million exceeded expectations and rose slightly year over year.
• Institutional investors own 95.13% of the stock. Separately, executive vice president Samuel R. Rubio sold 17,705 shares worth about $1.62 million, reducing his ownership by 34.77%.

Tidewater Inc. (NYSE:TDW - Get Free Report) has been given an average rating of "Hold" by the nine brokerages that are 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 target among analysts that have issued a report on the stock in the last year is $91.00.

Several brokerages have issued reports on TDW. Pickering Energy Partners raised shares of Tidewater from an "underperform" rating to a "neutral" rating in a research note on Thursday, June 11th. Barclays raised their price objective on Tidewater from $86.00 to $91.00 and gave the stock an "equal weight" rating in a research report on Thursday. Zacks Research lowered Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Weiss Ratings downgraded shares of Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, July 28th. Finally, Fearnley Fonds raised Tidewater from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 5th.

Insiders Place Their Bets

In other news, EVP Samuel R. Rubio sold 17,705 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $91.56, for a total value of $1,621,069.80. Following the transaction, the executive vice president owned 33,214 shares of the company's stock, valued at approximately $3,041,073.84. The trade was a 34.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Tidewater

Large investors have recently bought and sold shares of the company. Blue Trust Inc. acquired a new stake in shares of Tidewater during the 1st quarter worth about $26,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Tidewater during the 2nd quarter worth $27,000. Longview Financial Advisors Inc. purchased a new position in shares of Tidewater in the 1st quarter worth about $54,000. Parallel Advisors LLC raised its holdings in Tidewater by 37.3% in the first quarter. Parallel Advisors LLC now owns 766 shares of the oil and gas company's stock valued at $64,000 after buying an additional 208 shares during the period. Finally, Clearstead Advisors LLC lifted its holdings in shares of Tidewater by 22.2% during the 4th quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company's stock valued at $44,000 after acquiring an additional 158 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

Tidewater Price Performance

NYSE TDW opened at $93.99 on Tuesday. Tidewater has a 1 year low of $46.65 and a 1 year high of $95.32. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 19.03 and a beta of 0.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.58 and a quick ratio of 3.47. The stock's fifty day moving average price is $74.92 and its 200 day moving average price is $77.14.

Tidewater (NYSE:TDW - Get Free Report) last posted its earnings results 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 business 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 earnings per share. The company's revenue for the quarter was up .3% on a year-over-year basis. As a group, equities research analysts forecast that Tidewater will post 3.08 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source