Tidewater Inc. (TDW) Trading Up 2.2%
Shares of Tidewater Inc. (NYSE:TDW) were up 2.2% during mid-day trading on Wednesday . The company traded as high as $3.31 and last traded at $3.25, with a volume of 478,314 shares traded. The stock had previously closed at $3.18.
Several analysts have weighed in on the stock. Iberia Capital downgraded shares of Tidewater from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $8.00 to $4.00 in a research note on Friday, May 27th. Argus reissued a “hold” rating on shares of Tidewater in a research note on Friday, July 8th. Zacks Investment Research downgraded shares of Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, August 10th. Johnson Rice downgraded shares of Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Morgan Stanley set a $4.50 price target on shares of Tidewater and gave the stock a “sell” rating in a research note on Thursday, August 11th. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $11.25.
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The stock’s 50-day moving average is $3.75 and its 200 day moving average is $5.68. The company’s market cap is $152.97 million.
Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, August 9th. The company reported ($1.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $1.15. The company had revenue of $167.90 million for the quarter, compared to the consensus estimate of $169.75 million. The business’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same period last year, the firm earned $0.18 earnings per share. On average, equities analysts forecast that Tidewater Inc. will post ($4.17) EPS for the current fiscal year.
Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil.
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