Tidewater Inc. (NYSE:TDW) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Tidewater Inc. (NYSE:TDW) has received an average recommendation of "Moderate Buy" from seven research firms, with an average 1-year target price of $69.00.
• Recently, Tidewater reported $1.23 earnings per share, exceeding analysts' expectations of $0.28, and had quarterly revenue of $341.43 million.
• The company's Board of Directors approved a $500 million stock repurchase plan, allowing the repurchase of up to 21.3% of its shares, indicating management's belief that the shares are undervalued.

Tidewater Inc. (NYSE:TDW - Get Free Report) has received an average rating of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $69.00.

Several research analysts have recently issued reports on TDW shares. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Evercore ISI raised their price objective on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Fearnley Fonds upgraded Tidewater to a "hold" rating in a research note on Tuesday, September 16th. Finally, BTIG Research lowered Tidewater from a "buy" rating to a "neutral" rating in a report on Monday, July 14th.

Tidewater Price Performance

TDW opened at $57.59 on Friday. Tidewater has a 12-month low of $31.17 and a 12-month high of $74.57. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The business's fifty day simple moving average is $56.37 and its 200-day simple moving average is $46.92. The company has a market capitalization of $2.85 billion, a price-to-earnings ratio of 14.92 and a beta of 1.09.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.95. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The firm had revenue of $341.43 million during the quarter, compared to analysts' expectations of $317.28 million. During the same period in the prior year, the business posted $0.94 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. Tidewater has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Tidewater will post 3.25 earnings per share for the current fiscal year.

Tidewater announced that its Board of Directors has approved a stock repurchase plan on Monday, August 4th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 21.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the transaction, the executive vice president owned 75,986 shares in the company, valued at $4,373,754.16. This trade represents a 11.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Tidewater

A number of institutional investors have recently modified their holdings of TDW. Northwestern Mutual Wealth Management Co. grew its stake in Tidewater by 2,321.4% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 650 shares in the last quarter. Bogart Wealth LLC acquired a new position in Tidewater during the 1st quarter worth $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater during the 1st quarter worth $40,000. Parkside Financial Bank & Trust grew its stake in Tidewater by 4,245.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company's stock worth $40,000 after purchasing an additional 849 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in Tidewater by 2,510.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company's stock worth $42,000 after purchasing an additional 954 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

About Tidewater

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.

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