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

Key Points

• Tidewater Inc. (NYSE:TDW) has received a consensus recommendation of "Hold" from eight ratings firms, with six recommending a hold and two a buy.
• The company recently reported earnings of $1.23 per share for the last quarter, significantly beating the consensus estimate of $0.28 by $0.95.
• Tidewater's board has approved a $500 million stock repurchase program, indicating confidence in the company's valuation and plans to buy back up to 21.3% of its shares.

Tidewater Inc. (NYSE:TDW - Get Free Report) has been assigned a consensus recommendation of "Hold" from the eight ratings firms that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $69.00.

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Tidewater in a research note on Wednesday, October 8th. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research lowered Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Fearnley Fonds raised Tidewater to a "hold" rating in a research note on Tuesday, September 16th. Finally, Evercore ISI upped their price target on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th.

Tidewater Trading Down 1.0%

Tidewater stock opened at $47.32 on Wednesday. Tidewater has a 12-month low of $31.17 and a 12-month high of $65.76. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 12.26 and a beta of 1.05. The firm has a 50 day moving average of $55.66 and a 200 day moving average of $48.07. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.95. The business had revenue of $341.43 million for the quarter, compared to the consensus estimate of $317.28 million. Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. As a group, research analysts predict that Tidewater will post 3.25 earnings per share for the current year.

Tidewater declared that its board has approved a stock repurchase program on Monday, August 4th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Daniel A. Hudson sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total transaction of $575,600.00. Following the completion of the transaction, the executive vice president directly owned 75,986 shares of the company's stock, valued at approximately $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 accessible through this link. Insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its stake in Tidewater by 69.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company's stock valued at $165,058,000 after acquiring an additional 1,598,513 shares in the last quarter. Robotti Robert grew its stake in Tidewater by 3.3% during the second quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company's stock valued at $136,154,000 after acquiring an additional 94,902 shares in the last quarter. Third Avenue Management LLC grew its stake in Tidewater by 8.1% during the second quarter. Third Avenue Management LLC now owns 875,157 shares of the oil and gas company's stock valued at $40,371,000 after acquiring an additional 65,899 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in Tidewater by 14.3% during the second quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company's stock valued at $34,332,000 after acquiring an additional 92,884 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in Tidewater during the second quarter valued at $28,199,000. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.

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