Shares of Tidewater Inc. (NYSE:TDW) have been assigned a consensus recommendation of “Hold” from the twelve research firms that are covering the firm. Three analysts have rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $10.25.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Johnson Rice cut shares of Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Argus reaffirmed a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Finally, Morgan Stanley set a $4.50 price objective on shares of Tidewater and gave the company a “sell” rating in a research note on Thursday, August 11th.
A number of hedge funds and other institutional investors have recently modified their holdings of TDW. Emerald Acquisition Ltd. bought a new position in shares of Tidewater during the second quarter valued at approximately $6,404,000. Renaissance Technologies LLC raised its position in shares of Tidewater by 157.9% in the first quarter. Renaissance Technologies LLC now owns 1,896,800 shares of the company’s stock valued at $12,955,000 after buying an additional 1,161,400 shares during the period. Robotti Robert raised its position in shares of Tidewater by 4,525.5% in the second quarter. Robotti Robert now owns 1,025,470 shares of the company’s stock valued at $4,523,000 after buying an additional 1,003,300 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Tidewater by 846.1% in the second quarter. Janney Montgomery Scott LLC now owns 483,394 shares of the company’s stock valued at $2,132,000 after buying an additional 432,303 shares during the period. Finally, Snow Capital Management LP raised its position in shares of Tidewater by 39.3% in the second quarter. Snow Capital Management LP now owns 1,436,156 shares of the company’s stock valued at $6,333,000 after buying an additional 405,298 shares during the period.
Shares of Tidewater (NYSE:TDW) opened at 3.04 on Tuesday. The firm’s market capitalization is $143.08 million. The firm has a 50-day moving average of $3.06 and a 200-day moving average of $5.01. Tidewater has a 12-month low of $2.16 and a 12-month high of $17.21.
Tidewater (NYSE:TDW) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) earnings per share (EPS) for the quarter, missing the Zacks’ 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 business earned $167.90 million during the quarter, compared to analysts’ expectations of $169.75 million. During the same period last year, the company posted $0.18 EPS. Tidewater’s revenue for the quarter was down 44.9% on a year-over-year basis. Equities analysts anticipate that Tidewater will post ($4.27) earnings per share for the current year.
Tidewater Inc provides offshore service vessels and marine support services. The Company operates through four segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. Its Americas segment includes the activities of the Company’s 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 of offshore Mexico, Trinidad and Brazil.
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