Tidewater (NYSE:TDW) Announces Quarterly Earnings Results

Tidewater (NYSE:TDW - Get Free Report) announced its quarterly earnings data on Thursday, May 1st. The oil and gas company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.34, Zacks reports. The company had revenue of $333.44 million during the quarter, compared to analyst estimates of $325.90 million. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.92 EPS.

Tidewater Stock Performance

NYSE TDW traded up $0.88 during trading hours on Friday, hitting $42.01. The company's stock had a trading volume of 228,377 shares, compared to its average volume of 1,085,464. Tidewater has a 12 month low of $31.17 and a 12 month high of $110.06. The company's 50 day simple moving average is $38.57 and its two-hundred day simple moving average is $48.43. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. The company has a market cap of $2.14 billion, a P/E ratio of 12.36 and a beta of 1.00.

Insider Activity

In other news, Director Robert Robotti purchased 25,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the completion of the purchase, the director now owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This represents a 1.14 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.33% of the company's stock.

Wall Street Analyst Weigh In

TDW has been the topic of a number of recent research reports. Pickering Energy Partners cut shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Raymond James reduced their target price on shares of Tidewater from $76.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday. Finally, Evercore ISI lowered shares of Tidewater from an "outperform" rating to an "in-line" rating and lowered their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Tidewater presently has a consensus rating of "Moderate Buy" and an average target price of $84.50.

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.