Scotiabank Has Negative Outlook of TSE:TWM FY2024 Earnings

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) – Analysts at Scotiabank reduced their FY2024 earnings per share estimates for Tidewater Midstream and Infrastructure in a report released on Wednesday, January 8th. Scotiabank analyst R. Hope now expects that the company will post earnings per share of ($0.14) for the year, down from their previous estimate of ($0.13). The consensus estimate for Tidewater Midstream and Infrastructure’s current full-year earnings is $0.02 per share. Scotiabank also issued estimates for Tidewater Midstream and Infrastructure’s FY2025 earnings at ($0.01) EPS.

A number of other analysts have also recently commented on the stock. CIBC upped their target price on shares of Tidewater Midstream and Infrastructure from C$0.30 to C$0.40 and gave the company a “neutral” rating in a report on Thursday. Atb Cap Markets lowered Tidewater Midstream and Infrastructure from a “strong-buy” rating to a “moderate buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of C$0.66.

Tidewater Midstream and Infrastructure Price Performance

Shares of TSE:TWM opened at C$0.17 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 158.54. The stock has a market capitalization of C$73.12 million, a PE ratio of -0.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.67. The firm’s 50 day moving average price is C$0.15 and its 200-day moving average price is C$0.32. Tidewater Midstream and Infrastructure has a twelve month low of C$0.11 and a twelve month high of C$1.08.

About Tidewater Midstream and Infrastructure

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.