Tidewater (NYSE:TDW) Announces Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Tidewater (NYSE:TDW) released its earnings results on Friday. The oil and gas company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.24, Briefing.com reports. Tidewater had a return on equity of 18.16% and a net margin of 13.92%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS.

Tidewater Price Performance

TDW stock opened at $41.44 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.19 and a current ratio of 2.29. Tidewater has a 52-week low of $31.17 and a 52-week high of $110.06. The company has a market capitalization of $2.11 billion, a P/E ratio of 12.19 and a beta of 1.00. The company has a fifty day moving average price of $38.55 and a 200-day moving average price of $48.19.

Insider Buying and Selling

In other news, Director Robert Robotti acquired 25,000 shares of Tidewater stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $40.11 per share, with a total value of $1,002,750.00. Following the purchase, the director now owns 2,208,670 shares in the company, valued at $88,589,753.70. This trade represents a 1.14 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TDW has been the topic of several research reports. Evercore ISI lowered shares of Tidewater from an “outperform” rating to an “in-line” rating and decreased their price target for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Raymond James dropped their price target on Tidewater from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Pickering Energy Partners lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $69.33.

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.