Atb Cap Markets Analysts Cut Earnings Estimates for Tidewater Midstream and Infrastructure Ltd. (TSE:TWM)

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) – Equities research analysts at Atb Cap Markets cut their Q1 2024 earnings per share (EPS) estimates for Tidewater Midstream and Infrastructure in a report released on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will earn ($0.01) per share for the quarter, down from their prior forecast of $0.01. The consensus estimate for Tidewater Midstream and Infrastructure’s current full-year earnings is $0.08 per share. Atb Cap Markets also issued estimates for Tidewater Midstream and Infrastructure’s FY2024 earnings at $0.04 EPS.

Tidewater Midstream and Infrastructure (TSE:TWM) last posted its quarterly earnings results on Thursday, March 14th. The company reported C($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.01) by C($0.03). Tidewater Midstream and Infrastructure had a negative net margin of 17.48% and a negative return on equity of 73.46%. The business had revenue of C$503.00 million for the quarter.

Several other analysts have also issued reports on the stock. Stifel Nicolaus cut their price target on shares of Tidewater Midstream and Infrastructure from C$1.25 to C$0.90 and set a “hold” rating for the company in a research report on Thursday. National Bankshares dropped their target price on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$1.00 in a report on Friday, March 15th. Scotiabank dropped their target price on shares of Tidewater Midstream and Infrastructure from C$1.50 to C$1.10 in a report on Friday, March 15th. CIBC lowered shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from C$1.50 to C$1.10 in a report on Friday, March 15th. Finally, Royal Bank of Canada dropped their target price on shares of Tidewater Midstream and Infrastructure from C$1.50 to C$1.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Tidewater Midstream and Infrastructure has a consensus rating of “Moderate Buy” and an average price target of C$1.05.

Tidewater Midstream and Infrastructure Stock Performance

TSE TWM opened at C$0.75 on Thursday. The company has a 50-day simple moving average of C$0.80 and a two-hundred day simple moving average of C$0.92. The company has a quick ratio of 0.55, a current ratio of 0.65 and a debt-to-equity ratio of 233.13. Tidewater Midstream and Infrastructure has a 12-month low of C$0.70 and a 12-month high of C$1.10. The firm has a market cap of C$321.15 million, a price-to-earnings ratio of -0.82, a PEG ratio of 0.64 and a beta of 1.80.

Insiders Place Their Bets

In other Tidewater Midstream and Infrastructure news, Senior Officer Jared Ian Arling Strom Gurevitch sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of C$0.77, for a total value of C$38,500.00. 6.42% of the stock is currently owned by company insiders.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.