Tidewater Upgraded to “Buy” by Argus (TDW)
Tidewater (NYSE:TDW) was upgraded by Argus from a “hold” rating to a “buy” rating in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm currently has a $69.00 price target on the stock. Argus’ price target points to a potential upside of 15.15% from the stock’s previous close.
TDW has been the subject of a number of other recent research reports. Analysts at Cowen and Company initiated coverage on shares of Tidewater in a research note to investors on Wednesday, October 9th. They set an “outperform” rating and a $70.00 price target on the stock. Separately, analysts at Barclays reiterated a “buy” rating on shares of Tidewater in a research note to investors on Tuesday, October 8th. They now have a $71.00 price target on the stock. Finally, analysts at Credit Suisse raised their price target on shares of Tidewater from $63.00 to $64.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. Tidewater presently has an average rating of “Buy” and a consensus price target of $63.27.
Tidewater (NYSE:TDW) opened at 59.92 on Tuesday. Tidewater has a 1-year low of $42.33 and a 1-year high of $62.38. The stock has a 50-day moving average of $57.64 and a 200-day moving average of $56.09. The company has a market cap of $2.950 billion and a P/E ratio of 20.03.
Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by $0.08. The company had revenue of $334.10 million for the quarter, compared to the consensus estimate of $333.33 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that Tidewater will post $3.96 EPS for the current fiscal year.
Tidewater Inc, provides offshore supply vessels and marine support services to the offshore energy industry through the operation of marine service vessels.
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