StockNews.com Lowers Tidewater (NYSE:TDW) to Sell

StockNews.com downgraded shares of Tidewater (NYSE:TDW) from a hold rating to a sell rating in a report released on Saturday morning.

Separately, Raymond James lifted their target price on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.25.

Tidewater Trading Up 0.2 %

Shares of NYSE:TDW opened at $61.17 on Friday. 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 stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 24.37 and a beta of 1.12. Tidewater has a 1-year low of $54.53 and a 1-year high of $111.42. The company has a 50 day moving average price of $73.67 and a 200 day moving average price of $88.85.

Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.22. The business had revenue of $339.20 million during the quarter, compared to analyst estimates of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The company’s revenue was up 57.8% compared to the same quarter last year. During the same period last year, the company posted $0.46 EPS. On average, research analysts anticipate that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to repurchase up to 0.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Tidewater

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Tidewater by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 3,829,340 shares of the oil and gas company’s stock valued at $276,134,000 after purchasing an additional 30,740 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Tidewater by 71.6% in 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 buying an additional 156 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Tidewater by 244.3% in the 1st quarter. Principal Financial Group Inc. now owns 38,413 shares of the oil and gas company’s stock worth $3,534,000 after acquiring an additional 27,257 shares during the period. BNP Paribas Financial Markets lifted its position in Tidewater by 22.5% during the 1st quarter. BNP Paribas Financial Markets now owns 38,597 shares of the oil and gas company’s stock worth $3,551,000 after acquiring an additional 7,087 shares during the last quarter. Finally, Hosking Partners LLP boosted its holdings in Tidewater by 0.6% during the first quarter. Hosking Partners LLP now owns 283,350 shares of the oil and gas company’s stock valued at $26,068,000 after acquiring an additional 1,591 shares during the period. Institutional investors own 95.13% of the company’s stock.

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.