Tidewater (TDW) Scheduled to Post Earnings on Thursday

Tidewater (NYSE:TDW - Get Free Report) will post its quarterly earnings results after the market closes on Thursday, November 7th. Analysts expect Tidewater to post earnings of $0.79 per share for the quarter. Tidewater has set its FY 2024 guidance at EPS.Investors that are interested in registering for the company's conference call can do so using this link.

Tidewater (NYSE:TDW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported $0.94 earnings per share for the quarter, beating analysts' consensus estimates of $0.72 by $0.22. The firm had revenue of $339.20 million for the quarter, compared to analysts' expectations of $331.85 million. Tidewater had a return on equity of 18.04% and a net margin of 12.77%. The business's revenue was up 57.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. On average, analysts expect Tidewater to post $4 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Tidewater Price Performance

Shares of NYSE TDW traded down $1.25 during midday trading on Friday, reaching $58.82. 823,160 shares of the company traded hands, compared to its average volume of 885,992. Tidewater has a 12 month low of $54.53 and a 12 month high of $111.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.82 and a current ratio of 1.90. The stock's 50-day simple moving average is $72.15 and its 200-day simple moving average is $88.20. The firm has a market cap of $3.09 billion, a PE ratio of 19.48 and a beta of 1.12.

Tidewater declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 6th that permits the company to buyback $13.90 million in shares. This buyback authorization permits the oil and gas company to purchase up to 0.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Raymond James upped their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a "strong-buy" rating in a research note on Thursday, August 8th. StockNews.com lowered Tidewater from a "hold" rating to a "sell" rating in a research report on Saturday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $111.25.

Tidewater Company Profile

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.