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

Key Points

• Tidewater Inc. (NYSE:TDW) has received an average recommendation of "Moderate Buy" from six brokerages, with a target price of $69.00.
• Insider trading activity included Director Robert Robotti purchasing 15,000 shares at $42.05 each, while EVP Daniel A. Hudson sold 10,000 shares at $57.56 each, indicating varying sentiment among executives.
• The company has also announced a $500 million stock buyback program, allowing repurchase of up to 21.3% of its shares, signaling confidence in its stock valuation.

Tidewater Inc. (NYSE:TDW - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $69.00.

TDW has been the topic of several research reports. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Zacks Research upgraded Tidewater from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. Raymond James Financial decreased their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, Evercore ISI lifted their target price on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a report on Wednesday, August 6th.

Tidewater Stock Performance

Shares of NYSE:TDW traded up $0.84 on Tuesday, hitting $57.31. The company had a trading volume of 553,505 shares, compared to its average volume of 1,050,099. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 14.85 and a beta of 1.09. The stock has a 50 day moving average price of $53.39 and a 200 day moving average price of $45.64. Tidewater has a 1-year low of $31.17 and a 1-year high of $81.00. 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 announced its earnings results on Monday, August 4th. The oil and gas company reported $1.23 EPS for the quarter, topping the consensus estimate of $0.28 by $0.95. The business had revenue of $341.43 million during 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%. Tidewater's revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.94 EPS. Tidewater has set its FY 2025 guidance at EPS. Analysts expect that Tidewater will post 3.25 EPS for the current year.

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

Insiders Place Their Bets

In other Tidewater news, EVP Daniel A. Hudson sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $57.56, for a total value of $575,600.00. Following the completion of the sale, the executive vice president owned 75,986 shares of the company's stock, valued at $4,373,754.16. The trade was a 11.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Tidewater

Large investors have recently added to or reduced their stakes in the stock. Nuveen LLC acquired a new position in Tidewater in the 1st quarter valued at $5,642,000. GAMMA Investing LLC boosted its holdings in shares of Tidewater by 477.5% in the 1st quarter. GAMMA Investing LLC now owns 2,668 shares of the oil and gas company's stock valued at $113,000 after purchasing an additional 2,206 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Tidewater by 2.8% in the first quarter. Principal Financial Group Inc. now owns 283,950 shares of the oil and gas company's stock valued at $12,003,000 after buying an additional 7,837 shares in the last quarter. Farther Finance Advisors LLC grew its position in Tidewater by 94,555.6% in the first quarter. Farther Finance Advisors LLC now owns 8,519 shares of the oil and gas company's stock valued at $366,000 after acquiring an additional 8,510 shares during the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Tidewater by 14.3% in the 1st quarter. Spire Wealth Management now owns 3,983 shares of the oil and gas company's stock valued at $168,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 95.13% of the company's stock.

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.