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

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus recommendation of “Buy” by the five brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $111.25.

Several equities analysts have issued reports on TDW shares. Raymond James lifted their target price on Tidewater from $133.00 to $138.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com cut shares of Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, October 16th.

Tidewater Trading Up 1.4 %

NYSE:TDW opened at $63.02 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The firm has a 50-day simple moving average of $76.25 and a 200-day simple moving average of $90.14. Tidewater has a one year low of $54.53 and a one year high of $111.42. The firm has a market cap of $3.31 billion, a P/E ratio of 20.87 and a beta of 1.12.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $331.85 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. Tidewater’s revenue was up 57.8% on a year-over-year basis. Equities analysts anticipate that Tidewater will post 4.4 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Tidewater

Several hedge funds and other institutional investors have recently modified their holdings of the stock. 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 valued at $25,000 after purchasing an additional 153 shares in the last quarter. Quarry LP purchased a new stake in shares of Tidewater during the second quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in shares of Tidewater in the 1st quarter valued at $28,000. Hollencrest Capital Management purchased a new position in Tidewater in the 2nd quarter worth $30,000. Finally, PNC Financial Services Group Inc. lifted its position in Tidewater by 71.6% during the 4th 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. 95.13% of the stock is owned by hedge funds and other institutional investors.

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.