Tidewater (NYSE:TDW) Earns "Hold (C)" Rating from Weiss Ratings

Key Points

• Tidewater's stock has been reaffirmed with a "Hold (C)" rating by Weiss Ratings, while other analysts also suggest hold ratings, indicating mixed sentiments about the stock's performance.
• The company announced a $500 million share repurchase plan, signaling the board's belief that the stock may be undervalued, allowing it to buy back up to 21.3% of its shares.
• Tidewater reported a quarterly earnings per share (EPS) of $1.23, significantly surpassing analysts' expectations of $0.28, with a revenue of $341.43 million, up 0.6% year-over-year.

Tidewater (NYSE:TDW - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued research reports about the stock. Fearnley Fonds upgraded shares of Tidewater to a "hold" rating in a research report on Tuesday, September 16th. Evercore ISI boosted their target price on shares of Tidewater from $60.00 to $67.00 and gave the company an "in-line" rating in a research note on Wednesday, August 6th. Zacks Research lowered shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Monday. Finally, BTIG Research lowered shares of Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $69.00.

Tidewater Stock Performance

Shares of NYSE TDW traded down $1.04 during trading on Wednesday, reaching $52.96. 583,594 shares of the company traded hands, compared to its average volume of 741,084. The firm has a 50 day simple moving average of $56.76 and a 200-day simple moving average of $47.60. The company has a quick ratio of 2.04, a current ratio of 2.11 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.62 billion, a PE ratio of 13.72 and a beta of 1.05. Tidewater has a 52-week low of $31.17 and a 52-week high of $69.06.

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

Tidewater announced that its board has initiated a share repurchase plan 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 plans are generally a sign 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 firm's stock in a transaction 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 approximately $4,373,754.16. This trade represents a 11.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.60% of the company's stock.

Institutional Trading of Tidewater

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Tidewater by 24,310.4% during the first quarter. GAMMA Investing LLC now owns 112,776 shares of the oil and gas company's stock worth $4,767,000 after buying an additional 112,314 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Tidewater by 0.7% in the first quarter. Rhumbline Advisers now owns 131,534 shares of the oil and gas company's stock valued at $5,560,000 after acquiring an additional 943 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 period. CX Institutional acquired a new stake in shares of Tidewater in the first quarter valued at approximately $2,260,000. Finally, Salem Investment Counselors Inc. purchased a new stake in shares of Tidewater during the first quarter worth approximately $254,000. 95.13% of the stock is currently owned by hedge funds and other institutional investors.

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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