Tidewater (NYSE:TDW) Upgraded by Zacks Research to Hold Rating

by · The Cerbat Gem

Zacks Research upgraded shares of Tidewater (NYSE:TDW – Free Report) from a strong sell rating to a hold rating in a report released on Monday morning,Zacks.com reports.

A number of other research analysts have also weighed in on TDW. Evercore ISI dropped their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Fearnley Fonds raised Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Finally, Dnb Nor Markets cut Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Tidewater presently has an average rating of “Hold” and an average price target of $67.50.

Read Our Latest Research Report on Tidewater

Tidewater Stock Performance

Shares of TDW traded up $2.09 during mid-day trading on Monday, hitting $58.94. 266,128 shares of the company’s stock were exchanged, compared to its average volume of 620,361. The stock’s 50-day simple moving average is $54.17 and its 200-day simple moving average is $53.76. Tidewater has a 52 week low of $31.17 and a 52 week high of $64.07. 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 $2.92 billion, a price-to-earnings ratio of 19.89 and a beta of 0.63.

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 analysts’ consensus estimates of $0.46 by ($0.48). Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The firm had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. During the same quarter in the previous year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Tidewater will post 3.25 EPS for the current year.

Hedge Funds Weigh In On Tidewater

Large investors have recently added to or reduced their stakes in the company. Robotti Robert grew its stake in Tidewater by 3.3% during the 2nd quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock worth $136,154,000 after buying an additional 94,902 shares during the last quarter. Dakota Wealth Management purchased a new position in shares of Tidewater in the 2nd quarter valued at approximately $848,000. American Century Companies Inc. boosted its stake in Tidewater by 291.8% in the 2nd quarter. American Century Companies Inc. now owns 556,481 shares of the oil and gas company’s stock worth $25,670,000 after purchasing an additional 414,454 shares in the last quarter. River Road Asset Management LLC grew its position in Tidewater by 86.0% during the 2nd quarter. River Road Asset Management LLC now owns 101,780 shares of the oil and gas company’s stock worth $5,090,000 after purchasing an additional 47,049 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Tidewater by 14.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company’s stock valued at $34,332,000 after purchasing an additional 92,884 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

Tidewater Company Profile

(Get Free Report)

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.

Read More