Tidewater Inc. (NYSE:TDW) Receives $111.25 Average Price Target from Analysts

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

Several brokerages recently issued reports on TDW. Raymond James raised their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, September 11th.

Tidewater Stock Up 2.4 %

Shares of NYSE:TDW opened at $71.79 on Friday. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42. The business’s 50 day moving average is $84.45 and its 200 day moving average is $92.81. The stock has a market cap of $3.77 billion, a P/E ratio of 28.60 and a beta of 1.13. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56.

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

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

Institutional Trading of Tidewater

Several institutional investors have recently made changes to their positions in TDW. GAMMA Investing LLC boosted its stake in Tidewater by 135.4% during the second 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. Quarry LP purchased a new stake in shares of Tidewater in the 2nd quarter valued at $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Tidewater in the 1st quarter valued at $28,000. Hollencrest Capital Management acquired a new position in Tidewater during the 2nd quarter worth about $30,000. Finally, PNC Financial Services Group Inc. boosted its holdings 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 valued at $27,000 after acquiring an additional 156 shares during the period. Hedge funds and other institutional investors own 95.13% of the company’s stock.

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.