Tidewater Inc. (NYSE:TDW) Given Consensus Recommendation of “Hold” by Brokerages

Tidewater Inc. (NYSE:TDW) has earned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $89.3333.

Several equities analysts recently weighed in on the stock. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 19th. Raymond James Financial set a $117.00 target price on shares of Tidewater in a research note on Tuesday, March 3rd. Dawson James reissued an “outperform” rating on shares of Tidewater in a research note on Tuesday, March 3rd. Barclays raised their target price on shares of Tidewater from $80.00 to $86.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Tidewater in a research report on Monday, June 1st.

Hedge Funds Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Inspire Investing LLC boosted its position in Tidewater by 1.2% during the first quarter. Inspire Investing LLC now owns 11,332 shares of the oil and gas company’s stock worth $947,000 after purchasing an additional 131 shares during the period. Lido Advisors LLC boosted its position in Tidewater by 2.8% during the fourth quarter. Lido Advisors LLC now owns 5,509 shares of the oil and gas company’s stock worth $290,000 after purchasing an additional 149 shares during the period. Clearstead Advisors LLC boosted its position in Tidewater by 22.2% during the fourth quarter. Clearstead Advisors LLC now owns 871 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 158 shares during the period. Parkside Financial Bank & Trust boosted its position in Tidewater by 15.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,239 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 166 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its position in Tidewater by 1.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 10,579 shares of the oil and gas company’s stock worth $534,000 after purchasing an additional 200 shares during the period. 95.13% of the stock is owned by institutional investors.

Tidewater Price Performance

NYSE:TDW opened at $74.42 on Thursday. Tidewater has a 1-year low of $43.88 and a 1-year high of $93.13. The company has a current ratio of 3.33, a quick ratio of 3.22 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $82.34 and a 200 day simple moving average of $70.11. The stock has a market capitalization of $3.70 billion, a PE ratio of 12.47 and a beta of 0.50.

Tidewater (NYSE:TDW) last released its earnings results on Monday, May 4th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.63). Tidewater had a net margin of 22.16% and a return on equity of 8.79%. The firm had revenue of $326.22 million during the quarter, compared to the consensus estimate of $322.83 million. During the same period in the prior year, the business posted $0.83 earnings per share. Tidewater’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that Tidewater will post 3.52 EPS for the current fiscal year.

About Tidewater

Tidewater Inc is a leading global provider of offshore marine support vessels, serving the energy sector with a focus on the oil and gas industry. Headquartered in Houston, Texas, the company operates a diverse fleet of platform supply vessels (PSVs), anchor handling tug supply vessels (AHTSs), crew boats and other specialized vessels designed to support offshore drilling, production and construction activities.

The company’s fleet is equipped to handle a range of maritime services, including the transport of personnel, equipment and bulk materials; anchor handling and mooring operations; and subsea construction support.