Tidewater (NYSE:TDW) Stock Price Down 6.4% – Here’s What Happened

Tidewater Inc. (NYSE:TDW)’s stock price traded down 6.4% during trading on Tuesday . The stock traded as low as $52.37 and last traded at $52.8560. 167,606 shares traded hands during trading, a decline of 83% from the average session volume of 963,519 shares. The stock had previously closed at $56.48.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TDW shares. Weiss Ratings restated a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 8th. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 20th. Zacks Research downgraded shares of Tidewater from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. Evercore ISI lowered their price objective on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating on the stock in a research note on Wednesday, November 12th. Finally, Fearnley Fonds raised shares of Tidewater to a “hold” rating in a research note on Tuesday, September 16th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $67.50.

Tidewater Trading Down 5.9%

The company has a fifty day moving average of $53.12 and a 200-day moving average of $52.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.89 and a quick ratio of 2.79. The firm has a market capitalization of $2.63 billion, a PE ratio of 17.84 and a beta of 0.58.

Tidewater (NYSE:TDW) last posted its earnings results on Tuesday, November 11th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). The business had revenue of $341.11 million during the quarter, compared to analyst estimates of $328.84 million. Tidewater had a net margin of 11.14% and a return on equity of 14.86%. Tidewater’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.87 earnings per share. On average, sell-side analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tidewater

A number of institutional investors have recently made changes to their positions in the business. Blume Capital Management Inc. grew its holdings in Tidewater by 128.3% in the 3rd quarter. Blume Capital Management Inc. now owns 525 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 295 shares during the last quarter. Hantz Financial Services Inc. boosted its position in shares of Tidewater by 401.0% in the third quarter. Hantz Financial Services Inc. now owns 516 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 413 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Tidewater by 2,321.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 650 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Tidewater during the 1st quarter valued at $40,000. Finally, Parkside Financial Bank & Trust boosted its holdings in Tidewater by 4,245.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 849 shares during the period. 95.13% of the stock is currently owned by institutional investors.

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.