Brokerages Set Tidewater Inc. (NYSE:TDW) Target Price at $111.25

Shares of Tidewater Inc. (NYSE:TDW) have earned an average recommendation of “Buy” from the five analysts that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $111.25.

TDW has been the topic of several research analyst reports. StockNews.com lowered shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Raymond James boosted their price target on shares of Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th.

Institutional Trading of Tidewater

Several hedge funds have recently made changes to their positions in TDW. GAMMA Investing LLC increased its stake in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company’s stock worth $25,000 after buying an additional 153 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Tidewater by 71.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 156 shares during the period. Quarry LP acquired a new stake in shares of Tidewater in the second quarter valued at $27,000. Transcendent Capital Group LLC purchased a new position in Tidewater in the first quarter valued at $28,000. Finally, Hollencrest Capital Management purchased a new position in Tidewater in the second quarter valued at $30,000. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Stock Performance

Tidewater stock opened at $61.55 on Tuesday. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 24.52 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 has a 50 day simple moving average of $74.80 and a 200-day simple moving average of $89.50. Tidewater has a 1-year low of $54.53 and a 1-year high of $111.42.

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

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

Tidewater Company Profile

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.