Tidewater (NYSE:TDW) Rating Increased to Hold at Zacks Research

by · The Markets Daily

Tidewater (NYSE:TDW – Get Free Report) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages have also recently commented on TDW. Fearnley Fonds upgraded shares of Tidewater to a “hold” rating in a research report on Tuesday, September 16th. Evercore ISI lowered their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a report on Monday, December 29th. Finally, Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Tidewater presently has an average rating of “Hold” and a consensus price target of $67.50.

View Our Latest Stock Analysis on Tidewater

Tidewater Price Performance

Tidewater stock traded up $2.80 during mid-day trading on Monday, reaching $59.65. 101,835 shares of the company were exchanged, compared to its average volume of 605,904. The firm has a market cap of $2.96 billion, a PE ratio of 20.06 and a beta of 0.63. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The company has a fifty day simple moving average of $54.17 and a 200-day simple moving average of $53.76. Tidewater has a 12 month low of $31.17 and a 12 month high of $64.07.

Tidewater (NYSE:TDW – Get Free Report) last released its earnings results 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). The company had revenue of $341.11 million for the quarter, compared to analyst estimates of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. As a group, equities research analysts expect that Tidewater will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

Large investors have recently modified their holdings of the business. Blume Capital Management Inc. grew its stake in shares of Tidewater by 128.3% in the third quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 295 shares during the last quarter. Hantz Financial Services Inc. grew its position in shares of Tidewater by 401.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 413 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Tidewater by 4,245.0% in 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 period. Bogart Wealth LLC increased its stake in shares of 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 buying an additional 200 shares during the period. Finally, CWM LLC raised its position in shares of Tidewater by 83.6% during the second quarter. CWM LLC now owns 927 shares of the oil and gas company’s stock worth $43,000 after acquiring an additional 422 shares during the last quarter. 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.

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