Tidewater (NYSE:TDW) Raised to “Hold” at Zacks Research

Tidewater (NYSE:TDW) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

TDW has been the subject of a number of other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Tidewater in a research report on Monday, December 29th. Evercore ISI reduced their target price on shares of Tidewater from $67.00 to $65.00 and set an “in-line” rating for the company in a report on Wednesday, November 12th. Fearnley Fonds raised shares of Tidewater to a “hold” rating in a report on Tuesday, September 16th. Finally, Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.50.

Tidewater Stock Performance

Shares of NYSE:TDW traded up $1.82 on Monday, hitting $58.67. 287,899 shares of the company were exchanged, compared to its average volume of 627,806. The firm has a market capitalization of $2.91 billion, a P/E ratio of 19.76 and a beta of 0.63. The company has a current ratio of 2.89, a quick ratio of 2.79 and a debt-to-equity ratio of 0.57. Tidewater has a 1-year low of $31.17 and a 1-year high of $64.07. The stock’s 50 day moving average price is $54.17 and its 200 day moving average price is $53.76.

Tidewater (NYSE:TDW) last issued 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 firm had revenue of $341.11 million during the quarter, compared to analysts’ expectations of $328.84 million. Tidewater had a return on equity of 14.86% and a net margin of 11.14%.The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. Sell-side analysts predict that Tidewater will post 3.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in Tidewater by 22.6% during the first quarter. Royal Bank of Canada now owns 23,169 shares of the oil and gas company’s stock worth $980,000 after buying an additional 4,278 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Tidewater by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,028 shares of the oil and gas company’s stock worth $1,227,000 after acquiring an additional 1,271 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Tidewater by 4.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,833 shares of the oil and gas company’s stock valued at $1,895,000 after purchasing an additional 1,931 shares in the last quarter. Fermata Advisors LLC acquired a new stake in Tidewater during the 2nd quarter valued at $223,000. Finally, CX Institutional raised its position in Tidewater by 214.5% in the 2nd quarter. CX Institutional now owns 168,129 shares of the oil and gas company’s stock valued at $7,756,000 after purchasing an additional 114,667 shares during the last quarter. 95.13% of the stock is owned by institutional investors.

Tidewater Company Profile

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.