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

Key Points

• Tidewater has received a "Hold (C)" rating from Weiss Ratings, with seven analysts issuing hold ratings and two giving a buy rating.
• The company announced a stock buyback plan authorizing up to $500 million to repurchase approximately 21.3% of its outstanding shares.
• Tidewater reported a strong quarterly earnings performance with earnings per share of $1.23, significantly exceeding estimates.

Tidewater (NYSE:TDW - Get Free Report)'s stock had its "hold (c)" rating reiterated by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. Fearnley Fonds upgraded Tidewater to a "hold" rating in a research note on Tuesday, September 16th. Zacks Research downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. BTIG Research downgraded Tidewater from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Evercore ISI boosted their target price on Tidewater from $60.00 to $67.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. Finally, Dnb Nor Markets downgraded Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 20th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $69.00.

Tidewater Trading Down 4.1%

Shares of NYSE:TDW opened at $49.33 on Friday. Tidewater has a 12-month low of $31.17 and a 12-month high of $65.76. The business's fifty day simple moving average is $55.28 and its 200-day simple moving average is $48.30. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $2.44 billion, a PE ratio of 12.78 and a beta of 1.05.

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

Tidewater announced that its board has authorized a stock buyback plan on Monday, August 4th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 21.3% of its stock through open market purchases. Stock buyback plans are generally 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 stock was sold at an average price of $57.56, for a total transaction of $575,600.00. Following the sale, the executive vice president owned 75,986 shares in the company, valued at approximately $4,373,754.16. The trade was a 11.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.60% of the company's stock.

Hedge Funds Weigh In On Tidewater

Institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC acquired a new position in shares of Tidewater in the 1st quarter valued at about $5,642,000. GAMMA Investing LLC lifted 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 buying an additional 2,206 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Tidewater by 2.8% in the 1st 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 during the period. Dakota Wealth Management acquired a new position in shares of Tidewater in the 2nd quarter valued at about $848,000. Finally, Spire Wealth Management lifted its holdings 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 buying an additional 498 shares during the period. Institutional investors and hedge funds own 95.13% of the company's stock.

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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