Tidewater (TDW) Set to Announce Quarterly Earnings on Thursday

Tidewater (NYSE:TDW) is set to announce its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter.

Tidewater (NYSE:TDW) last announced its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The company had revenue of $302.66 million during the quarter, compared to the consensus estimate of $309.46 million. During the same period last year, the company earned $0.30 earnings per share. The business’s revenue was up 62.1% compared to the same quarter last year. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Price Performance

Tidewater stock traded down $0.07 during mid-day trading on Friday, reaching $93.15. 70,421 shares of the company were exchanged, compared to its average volume of 747,667. The company has a fifty day simple moving average of $85.88 and a 200-day simple moving average of $72.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. Tidewater has a 12 month low of $39.41 and a 12 month high of $101.10. The firm has a market cap of $4.87 billion, a PE ratio of 51.08 and a beta of 1.20.

Tidewater declared that its board has initiated a stock buyback plan on Thursday, February 29th that authorizes the company to buyback $48.60 million in outstanding shares. This buyback authorization authorizes the oil and gas company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Tidewater

In other news, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the transaction, the executive vice president now directly owns 104,312 shares in the company, valued at $8,553,584. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Daniel A. Hudson sold 8,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total value of $656,000.00. Following the sale, the executive vice president now directly owns 104,312 shares in the company, valued at approximately $8,553,584. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the transaction, the chief financial officer now owns 98,036 shares in the company, valued at $7,976,208.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,462 shares of company stock worth $3,716,739. Insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on TDW. Pickering Energy Partners began coverage on Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating on the stock. BTIG Research boosted their price target on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Johnson Rice initiated coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 price target on the stock. Evercore ISI upped their target price on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. Finally, StockNews.com upgraded shares of Tidewater from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $93.00.

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.