Tidewater Inc. (NYSE:TDW) Receives Consensus Rating of “Buy” from Analysts

Tidewater Inc. (NYSE:TDW) has received a consensus rating of “Buy” from the five analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $111.25.

Several analysts have recently commented on TDW shares. Raymond James increased their price objective on Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, September 11th.

Tidewater Trading Down 4.9 %

NYSE TDW opened at $70.11 on Friday. Tidewater has a 52 week low of $54.53 and a 52 week high of $111.42. The business has a 50 day moving average price of $85.09 and a 200-day moving average price of $92.76. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 27.93 and a beta of 1.13.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The firm had revenue of $339.20 million for the quarter, compared to analyst estimates of $331.85 million. During the same period last year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 57.8% compared to the same quarter last year. As a group, equities analysts expect that Tidewater will post 4.4 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Tidewater

Several institutional investors have recently bought and sold shares of TDW. GAMMA Investing LLC lifted its holdings in 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 purchasing an additional 153 shares during the last quarter. Quarry LP bought a new stake in shares of Tidewater in the second quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater during the 1st quarter valued at approximately $28,000. Hollencrest Capital Management bought a new position in Tidewater in the 2nd quarter worth approximately $30,000. Finally, PNC Financial Services Group Inc. grew its stake 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 valued at $27,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.