Tidewater (NYSE:TDW) Posts Quarterly Earnings Results, Beats Estimates By $0.34 EPS

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

Tidewater Trading Up 0.8 %

TDW traded up $0.31 on Friday, reaching $41.44. 1,274,942 shares of the company's stock were exchanged, compared to its average volume of 1,091,298. Tidewater has a twelve month low of $31.17 and a twelve month high of $110.06. The company's 50 day moving average is $38.55 and its 200-day moving average is $48.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 12.19 and a beta of 1.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on TDW shares. Raymond James lowered their price objective on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Wednesday. Evercore ISI downgraded shares of Tidewater from an "outperform" rating to an "in-line" rating and dropped their price objective for the company from $112.00 to $68.00 in a research note on Wednesday, January 15th. Finally, Pickering Energy Partners downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $84.50.

Insider Buying and Selling at Tidewater

In other news, Director Robert Robotti acquired 1,770 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $40.95 per share, for a total transaction of $72,481.50. Following the completion of the purchase, the director now directly owns 2,183,670 shares of the company's stock, valued at approximately $89,421,286.50. This trade represents a 0.08 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.33% of the stock is currently owned by corporate insiders.

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.