Tidewater Renewables (TSE:LCFS) Reaches New 12-Month High – Time to Buy?

Tidewater Renewables Ltd. (TSE:LCFS)’s share price hit a new 52-week high on Wednesday. The stock traded as high as C$24.11 and last traded at C$23.87, with a volume of 4670 shares changing hands. The stock had previously closed at C$23.83.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LCFS. ATB Cormark Capital Markets lifted their target price on Tidewater Renewables from C$16.00 to C$19.00 and gave the stock a “speculative buy” rating in a research report on Friday, August 14th. Royal Bank Of Canada upgraded Tidewater Renewables from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from C$12.50 to C$25.00 in a research note on Friday, August 14th. Finally, National Bank Financial lifted their price objective on Tidewater Renewables from C$13.25 to C$22.75 and gave the stock an “outperform” rating in a report on Friday, August 14th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of C$22.25.

Tidewater Renewables Stock Up 1.2%

The stock has a market capitalization of C$880.88 million, a P/E ratio of 94.05 and a beta of -0.59. The company has a current ratio of 1.13, a quick ratio of 0.10 and a debt-to-equity ratio of 109.35. The stock’s 50 day simple moving average is C$18.91 and its 200 day simple moving average is C$13.46.

Tidewater Renewables (TSE:LCFS) last released its earnings results on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. The company had revenue of C$160.60 million during the quarter. Tidewater Renewables had a net margin of 0.09% and a return on equity of 0.20%. As a group, research analysts predict that Tidewater Renewables Ltd. will post 0.15 EPS for the current fiscal year.

About Tidewater Renewables

Tidewater Renewables is a multi-faceted, energy transition company. The Corporation is focused on the production of low carbon fuels, including renewable diesel and sustainable aviation fuel. The Corporation was created in response to the growing demand for renewable fuels in North America and to capitalize on its potential to efficiently turn a wide variety of renewable feedstocks (such as canola oil, soybean oil, used cooking oil, distillers corn oil, tallow, and other biomasses) into low carbon fuels.