Tidewater (NYSE:TDW) Posts Earnings Results, Misses Estimates By $0.03 EPS

Key Points

• Tidewater reported quarterly EPS of $0.43, missing analysts’ $0.46 estimate by $0.03, while revenue of $342.29 million exceeded the $329.97 million consensus.
• Shares fell $3.62 to $71.44 during Monday trading. Tidewater posted an 8.79% return on equity and a 22.16% net margin, with a market capitalization of approximately $3.55 billion.
• Institutional investors own 95.13% of the company’s stock, and analyst sentiment remains a consensus “Hold” with a target price of $89.33.

Tidewater (NYSE:TDW - Get Free Report) issued its earnings results on Monday. The oil and gas company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.03), FiscalAI reports. The business had revenue of $342.29 million for the quarter, compared to analyst estimates of $329.97 million. Tidewater had a return on equity of 8.79% and a net margin of 22.16%.

Tidewater Stock Performance

Shares of NYSE TDW traded down $3.62 during trading hours on Monday, reaching $71.44. The stock had a trading volume of 749,106 shares, compared to its average volume of 789,355. The firm has a 50-day moving average of $72.47 and a 200-day moving average of $75.04. The firm has a market cap of $3.55 billion, a price-to-earnings ratio of 11.97 and a beta of 0.53. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. Tidewater has a fifty-two week low of $46.65 and a fifty-two week high of $93.13.

Institutional Investors Weigh In On Tidewater

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TDW. State Street Corp grew its position in shares of Tidewater by 4.7% during the fourth quarter. State Street Corp now owns 1,901,880 shares of the oil and gas company's stock worth $96,064,000 after acquiring an additional 85,697 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tidewater by 14.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,752,685 shares of the oil and gas company's stock valued at $88,529,000 after purchasing an additional 215,145 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Tidewater by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 557,282 shares of the oil and gas company's stock worth $28,148,000 after purchasing an additional 12,874 shares during the period. Federated Hermes Inc. boosted its stake in Tidewater by 18.5% during the 4th quarter. Federated Hermes Inc. now owns 511,476 shares of the oil and gas company's stock worth $25,835,000 after purchasing an additional 79,826 shares during the period. Finally, Boston Partners grew its position in Tidewater by 29.7% during the 3rd quarter. Boston Partners now owns 368,036 shares of the oil and gas company's stock worth $19,624,000 after purchasing an additional 84,360 shares during the last quarter. Hedge funds and other institutional investors own 95.13% of the company's stock.

Wall Street Analyst Weigh In

TDW has been the subject of a number of research analyst reports. Weiss Ratings downgraded Tidewater from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 28th. Zacks Research downgraded shares of Tidewater from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 19th. Fearnley Fonds upgraded shares of Tidewater from a "hold" rating to a "strong-buy" rating in a report on Friday, June 5th. Barclays increased their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Finally, Pickering Energy Partners upgraded shares of Tidewater from an "underperform" rating to a "neutral" rating in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tidewater presently has a consensus rating of "Hold" and a consensus target price of $89.33.

Tidewater Company Profile

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company's fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.

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