Tidewater (NYSE:TDW) Sets New 12-Month High – Here’s What Happened
by Scott Moore · The Cerbat GemTidewater Inc. (NYSE:TDW – Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $64.30 and last traded at $63.87, with a volume of 97767 shares traded. The stock had previously closed at $61.69.
Analyst Upgrades and Downgrades
TDW has been the topic of several recent research reports. Dnb Nor Markets lowered shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Zacks Research raised Tidewater from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Finally, Evercore ISI decreased their price target on Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.50.
Read Our Latest Research Report on TDW
Tidewater Trading Up 3.5%
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 $3.16 billion, a price-to-earnings ratio of 21.52 and a beta of 0.63. The company has a 50-day moving average price of $54.84 and a 200 day moving average price of $54.38.
Tidewater (NYSE:TDW – Get Free Report) last announced its quarterly earnings data on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. During the same period in the prior year, the company posted $0.87 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Tidewater
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blume Capital Management Inc. boosted its stake in shares of Tidewater by 128.3% during the 3rd 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 period. Hantz Financial Services Inc. raised its holdings 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 worth $28,000 after acquiring an additional 413 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in 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 purchasing an additional 849 shares during the last quarter. Bogart Wealth LLC grew its stake in Tidewater by 28.6% in the second quarter. Bogart Wealth LLC now owns 900 shares of the oil and gas company’s stock valued at $42,000 after purchasing an additional 200 shares in the last quarter. Finally, CWM LLC increased its position in Tidewater by 83.6% in the 2nd quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 422 shares during the last quarter. Hedge funds and other 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.