Capstone Asset Management Co. cut its stake in shares of Tidewater Inc. (NYSE:TDW) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 24,753 shares of the company’s stock after selling 90 shares during the period. Capstone Asset Management Co.’s holdings in Tidewater were worth $109,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors L.L.C. raised its stake in shares of Tidewater by 4.4% in the first quarter. Nisa Investment Advisors L.L.C. now owns 78,300 shares of the company’s stock valued at $535,000 after buying an additional 3,300 shares during the last quarter. Geode Capital Management LLC boosted its position in Tidewater by 6.9% in the first quarter. Geode Capital Management LLC now owns 300,580 shares of the company’s stock valued at $2,052,000 after buying an additional 19,351 shares during the period. Menta Capital LLC bought a new position in Tidewater during the first quarter valued at about $143,000. Prudential Financial Inc. boosted its position in Tidewater by 58.8% in the first quarter. Prudential Financial Inc. now owns 171,326 shares of the company’s stock valued at $1,170,000 after buying an additional 63,439 shares during the period. Finally, Teachers Advisors Inc. boosted its position in Tidewater by 118.0% in the first quarter. Teachers Advisors Inc. now owns 159,870 shares of the company’s stock valued at $1,092,000 after buying an additional 86,533 shares during the period.
Shares of Tidewater Inc. (NYSE:TDW) remained flat at $2.82 during mid-day trading on Friday. The company had a trading volume of 1,393,284 shares. The stock has a 50 day moving average price of $3.10 and a 200-day moving average price of $5.16. The firm’s market cap is $132.73 million. Tidewater Inc. has a one year low of $2.16 and a one year high of $17.93.
Tidewater (NYSE:TDW) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by $1.15. Tidewater had a negative net margin of 27.81% and a negative return on equity of 3.68%. The firm had revenue of $167.90 million for the quarter, compared to the consensus estimate of $169.75 million. During the same period in the prior year, the business earned $0.18 earnings per share. The company’s revenue for the quarter was down 44.9% on a year-over-year basis. On average, analysts expect that Tidewater Inc. will post ($4.27) EPS for the current fiscal year.
Several research analysts have recently issued reports on TDW shares. Argus reiterated a “hold” rating on shares of Tidewater in a report on Friday, July 8th. Zacks Investment Research cut shares of Tidewater from a “hold” rating to a “sell” rating in a report on Wednesday, August 10th. Johnson Rice cut shares of Tidewater from an “accumulate” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Morgan Stanley set a $4.50 price objective on shares of Tidewater and gave the company a “sell” rating in a report on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Tidewater has a consensus rating of “Hold” and an average target price of $11.25.
Tidewater Company Profile
Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil.
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