Tidewater Given Underweight Rating at Morgan Stanley (TDW)
Tidewater (NYSE:TDW)‘s stock had its “underweight” rating restated by stock analysts at Morgan Stanley in a report issued on Thursday. They currently have a $47.00 price target on the stock, down from their previous price target of $50.00. Morgan Stanley’s price target points to a potential downside of 2.83% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Tidewater from a “neutral” rating to an “underperform” rating in a research note on Tuesday, July 22nd. They now have a $48.00 price target on the stock. Separately, analysts at Argus raised their price target on shares of Tidewater from $58.00 to $71.00 in a research note on Thursday, June 26th. They now have a “buy” rating on the stock. Finally, analysts at Global Hunter Securities raised their price target on shares of Tidewater from $53.00 to $58.00 in a research note on Tuesday, May 27th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. Tidewater currently has a consensus rating of “Hold” and an average price target of $61.55.
Tidewater (NYSE:TDW) traded down 0.02% on Thursday, hitting $48.36. The stock had a trading volume of 157,940 shares. Tidewater has a one year low of $45.51 and a one year high of $63.22. The stock’s 50-day moving average is $51.71 and its 200-day moving average is $50.24. The company has a market cap of $2.404 billion and a price-to-earnings ratio of 15.65.
Tidewater (NYSE:TDW) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.88 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.92 by $0.04. The company had revenue of $385.70 million for the quarter, compared to the consensus estimate of $382.06 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts expect that Tidewater will post $4.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, September 3rd.
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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