Tidewater Inc. (NYSE:TDW) Receives Average Recommendation of "Buy" from Brokerages

Shares of Tidewater Inc. (NYSE:TDW - Get Free Report) have been assigned a consensus rating of "Buy" from the five brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $111.25.

TDW has been the topic of several research reports. Raymond James upped their price target on Tidewater from $133.00 to $138.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 8th. StockNews.com cut shares of Tidewater from a "hold" rating to a "sell" rating in a report on Wednesday, October 16th.

Tidewater Stock Up 0.7 %

NYSE TDW traded up $0.44 during trading hours on Tuesday, reaching $63.47. 936,507 shares of the company traded hands, compared to its average volume of 884,729. The stock has a market capitalization of $3.33 billion, a PE ratio of 21.15 and a beta of 1.12. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of 0.56. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42. The company has a 50 day moving average of $76.25 and a two-hundred day moving average of $90.14.

Tidewater (NYSE:TDW - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million for the quarter, compared to analysts' expectations of $331.85 million. During the same quarter last year, the company posted $0.46 earnings per share. The company's quarterly revenue was up 57.8% compared to the same quarter last year. As a group, equities analysts expect that Tidewater will post 4.4 earnings per share for the current year.

Tidewater announced that its board has authorized a share buyback program on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 0.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. GAMMA Investing LLC boosted its position in Tidewater by 135.4% during the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 153 shares during the period. Quarry LP bought a new position in Tidewater in the 2nd quarter valued at about $27,000. Transcendent Capital Group LLC acquired a new position in Tidewater during the 1st quarter valued at about $28,000. Hollencrest Capital Management bought a new stake in shares of Tidewater during the 2nd quarter worth about $30,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Tidewater by 71.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 374 shares of the oil and gas company's stock worth $27,000 after acquiring an additional 156 shares during the period. 95.13% of the stock is owned by institutional investors and hedge funds.

About Tidewater

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.