Tidewater Renewables (TSE:LCFS) Sets New 12-Month High – Here’s Why

Tidewater Renewables Ltd. (TSE:LCFS)’s share price reached a new 52-week high on Tuesday . The stock traded as high as C$21.27 and last traded at C$20.93, with a volume of 83661 shares changing hands. The stock had previously closed at C$20.69.

Wall Street Analyst Weigh In

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

Tidewater Renewables Price Performance

The company’s 50-day simple moving average is C$14.76 and its 200 day simple moving average is C$10.40. The company has a market cap of C$739.61 million, a PE ratio of 94.05 and a beta of -0.43. The company has a debt-to-equity ratio of 109.35, a quick ratio of 0.10 and a current ratio of 1.13.

Tidewater Renewables (TSE:LCFS) last posted its quarterly earnings data on Thursday, August 13th. The company reported C$0.13 earnings per share for the quarter. The business had revenue of C$160.60 million for the quarter. Tidewater Renewables had a return on equity of 0.20% and a net margin of 0.09%. On average, sell-side analysts predict that Tidewater Renewables Ltd. will post 0.15 earnings per share 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.