StockNews.com Lowers Tidewater (NYSE:TDW) to Sell

StockNews.com cut shares of Tidewater (NYSE:TDW) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Separately, Raymond James lifted their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $111.25.

Tidewater Trading Up 0.2 %

NYSE TDW opened at $61.17 on Friday. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 24.37 and a beta of 1.12. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.90 and a quick ratio of 1.82. The firm’s fifty day moving average price is $73.67 and its 200 day moving average price is $88.85.

Tidewater (NYSE:TDW) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million during the quarter, compared to analysts’ expectations of $331.85 million. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. Tidewater’s quarterly revenue was up 57.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. On average, sell-side analysts expect that Tidewater will post 4.4 earnings per share for the current fiscal year.

Tidewater declared that its board has initiated a share buyback program on Tuesday, August 6th that allows the company to repurchase $13.90 million in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of Tidewater by 135.4% during the second quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 153 shares during the period. PNC Financial Services Group Inc. grew its position in Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 156 shares during the last quarter. Quarry LP bought a new position in Tidewater in the 2nd quarter worth about $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Tidewater in the first quarter valued at approximately $28,000. Finally, Hollencrest Capital Management bought a new stake in shares of Tidewater during the second quarter valued at approximately $30,000. 95.13% of the stock is currently owned by institutional investors.

About Tidewater

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.