Tidewater Renewables (TSE:LCFS) Hits New 12-Month High – What’s Next?

Tidewater Renewables Ltd. (TSE:LCFS)’s stock price reached a new 52-week high during trading on Friday. The company traded as high as C$24.52 and last traded at C$23.74, with a volume of 16306 shares trading hands. The stock had previously closed at C$22.74.

Wall Street Analyst Weigh In

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

Tidewater Renewables Price Performance

The company has a quick ratio of 0.10, a current ratio of 1.13 and a debt-to-equity ratio of 109.35. The stock’s 50-day moving average price is C$19.88 and its 200 day moving average price is C$14.28. The firm has a market cap of C$872.11 million, a price-to-earnings ratio of 94.05 and a beta of -1.03.

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