Tidewater Lowered to Accumulate at Global Hunter Securities (TDW)
Tidewater (NYSE:TDW) was downgraded by equities researchers at Global Hunter Securities from a “buy” rating to an “accumulate” rating in a research report issued on Monday, TheFlyOnTheWall.com reports.
Shares of Tidewater (NYSE:TDW) opened at 50.03 on Monday. Tidewater has a 52 week low of $45.51 and a 52 week high of $63.22. The stock has a 50-day moving average of $51.39 and a 200-day moving average of $50.23. The company has a market cap of $2.480 billion and a price-to-earnings ratio of 16.19.
Tidewater (NYSE:TDW) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the 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 previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts predict that Tidewater will post $4.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders 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 2.00%. The ex-dividend date is Wednesday, September 3rd.
A number of other analysts have also recently weighed in on TDW. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Tidewater in a research note on Thursday. They now have a $47.00 price target on the stock, down previously from $50.00. Separately, 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. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $61.90.
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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