Tidewater (NYSE:TDW) Issues Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Tidewater (NYSE:TDW - Get Free Report) issued its quarterly earnings results on Friday. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.24, Briefing.com reports. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. During the same period last year, the firm posted $0.89 earnings per share. Tidewater's revenue for the quarter was up 3.8% on a year-over-year basis.

Tidewater Price Performance

Shares of Tidewater stock traded down $0.24 during trading on Tuesday, reaching $42.57. 726,143 shares of the stock traded hands, compared to its average volume of 1,089,247. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 12.52 and a beta of 1.00. The business has a fifty day simple moving average of $38.59 and a two-hundred day simple moving average of $47.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.29 and a quick ratio of 2.19. Tidewater has a 52-week low of $31.17 and a 52-week high of $110.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TDW shares. Evercore ISI lowered Tidewater from an "outperform" rating to an "in-line" rating and cut their price target for the stock from $112.00 to $68.00 in a research note on Wednesday, January 15th. Pickering Energy Partners lowered Tidewater from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Raymond James cut their price target on Tidewater from $76.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Tidewater currently has a consensus rating of "Hold" and a consensus price target of $69.33.

Insider Activity

In other news, Director Robert Robotti acquired 25,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $40.11 per share, for a total transaction of $1,002,750.00. Following the completion of the transaction, the director now directly owns 2,208,670 shares in the company, valued at approximately $88,589,753.70. This trade represents a 1.14% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 8.33% of the company's stock.

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.