Tidewater Inc. (TDW) Hits New 52-Week Low at $2.63
Tidewater Inc. (NYSE:TDW) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $2.63 and last traded at $2.83, with a volume of 1,978,789 shares. The stock had previously closed at $3.06.
Several research analysts have commented on TDW shares. Johnson Rice downgraded Tidewater from an “accumulate” rating to a “hold” rating in a research note on Wednesday, August 10th. Argus reiterated a “hold” rating on shares of Tidewater in a research report on Friday, July 8th. Iberia Capital downgraded Tidewater from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $8.00 to $4.00 in a research report on Friday, May 27th. Morgan Stanley set a $4.50 price target on Tidewater and gave the company a “sell” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research downgraded Tidewater from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. Three research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $11.25.
The stock’s market cap is $131.32 million. The firm’s 50-day moving average price is $3.45 and its 200 day moving average price is $5.51.
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Tidewater (NYSE:TDW) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($1.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.74) by $1.15. Tidewater had a negative net margin of 27.81% and a negative return on equity of 3.68%. The business earned $167.90 million during the quarter, compared to analyst estimates of $169.75 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue was down 44.9% on a year-over-year basis. Equities analysts anticipate that Tidewater Inc. will post ($4.27) earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System raised its stake in shares of Tidewater by 1.2% in the second quarter. Arizona State Retirement System now owns 24,432 shares of the company’s stock worth $108,000 after buying an additional 300 shares during the last quarter. Kanawha Capital Management LLC raised its stake in shares of Tidewater by 2.0% in the second quarter. Kanawha Capital Management LLC now owns 85,450 shares of the company’s stock worth $377,000 after buying an additional 1,700 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Tidewater by 11.8% in the second quarter. Thrivent Financial for Lutherans now owns 23,640 shares of the company’s stock worth $104,000 after buying an additional 2,490 shares during the last quarter. Pettyjohn Wood & White Inc. raised its stake in shares of Tidewater by 7.2% in the second quarter. Pettyjohn Wood & White Inc. now owns 44,375 shares of the company’s stock worth $196,000 after buying an additional 2,975 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Tidewater by 5.2% in the second quarter. BlackRock Group LTD now owns 62,248 shares of the company’s stock worth $274,000 after buying an additional 3,071 shares during the last quarter.
Tidewater Company Profile
Tidewater Inc provides offshore service vessels and marine support services to the global offshore energy industry. The Company operates through four operating segments: Americas, Asia/Pacific, Middle East/North Africa and Sub-Saharan Africa/Europe. The Americas segment includes the activities of its North American operations, which include operations in the United States Gulf of Mexico (GOM), and the United States and Canadian coastal waters of the Pacific and Atlantic oceans, as well as operations in Mexico, Trinidad and Brazil.
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