Tidewater (NYSE:TDW) Reaches New 12-Month High – Time to Buy?
by Amy Steele · The Cerbat GemTidewater Inc. (NYSE:TDW – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $65.14 and last traded at $64.9650, with a volume of 495206 shares traded. The stock had previously closed at $62.49.
Analyst Ratings Changes
TDW has been the subject of a number of research reports. Zacks Research raised shares of Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. Evercore ISI lowered their target price on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tidewater presently has an average rating of “Hold” and a consensus price target of $67.50.
Check Out Our Latest Stock Report on Tidewater
Tidewater Stock Performance
The company has a quick ratio of 2.79, a current ratio of 2.89 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.20 billion, a P/E ratio of 21.77 and a beta of 0.63. The business has a fifty day simple moving average of $55.45 and a 200-day simple moving average of $54.74.
Tidewater (NYSE:TDW – Get Free Report) last announced its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The business had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. Tidewater’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 EPS. On average, sell-side analysts predict that Tidewater Inc. will post 3.25 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in TDW. Hantz Financial Services Inc. increased its position in shares of Tidewater by 401.0% during the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 413 shares in the last quarter. Blume Capital Management Inc. boosted its position in shares of Tidewater by 128.3% during the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Tidewater by 4,245.0% during the second quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 849 shares during the last quarter. Bogart Wealth LLC increased its holdings in Tidewater by 28.6% in the 2nd quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock worth $42,000 after buying an additional 200 shares in the last quarter. Finally, CWM LLC lifted its stake in Tidewater by 83.6% during the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 422 shares during the period. Institutional investors own 95.13% of the company’s stock.
About Tidewater
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.