Analysts Set Expectations for Tidewater Midstream and Infrastructure Ltd.’s Q1 2024 Earnings (TSE:TWM)

Tidewater Midstream and Infrastructure Ltd. (TSE:TWM) – Atb Cap Markets cut their Q1 2024 earnings per share estimates for shares of Tidewater Midstream and Infrastructure in a report issued on Tuesday, April 23rd. Atb Cap Markets analyst N. Heywood now forecasts that the company will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.01. The consensus estimate for Tidewater Midstream and Infrastructure’s current full-year earnings is $0.08 per share. Atb Cap Markets also issued estimates for Tidewater Midstream and Infrastructure’s FY2024 earnings at $0.04 EPS.

Tidewater Midstream and Infrastructure (TSE:TWM) last announced its earnings results on Thursday, March 14th. The company reported C($0.04) earnings per share for the quarter, missing the consensus estimate of C($0.01) by C($0.03). Tidewater Midstream and Infrastructure had a negative net margin of 17.48% and a negative return on equity of 73.46%. The company had revenue of C$503.00 million during the quarter.

Several other analysts have also recently commented on the stock. Scotiabank reduced their target price on shares of Tidewater Midstream and Infrastructure from C$1.50 to C$1.10 in a research note on Friday, March 15th. National Bankshares cut their price target on shares of Tidewater Midstream and Infrastructure from C$1.10 to C$1.00 in a report on Friday, March 15th. Royal Bank of Canada lowered their price objective on Tidewater Midstream and Infrastructure from C$1.50 to C$1.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, CIBC lowered shares of Tidewater Midstream and Infrastructure from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from C$1.50 to C$1.10 in a research report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$1.11.

Tidewater Midstream and Infrastructure Stock Performance

TSE:TWM opened at C$0.74 on Thursday. The company has a debt-to-equity ratio of 233.13, a current ratio of 0.65 and a quick ratio of 0.55. The firm has a market cap of C$316.87 million, a price-to-earnings ratio of -0.81, a price-to-earnings-growth ratio of 0.64 and a beta of 1.80. The firm’s fifty day moving average price is C$0.80 and its 200 day moving average price is C$0.92. Tidewater Midstream and Infrastructure has a 1-year low of C$0.70 and a 1-year high of C$1.10.

Insider Activity at Tidewater Midstream and Infrastructure

In other Tidewater Midstream and Infrastructure news, Senior Officer Jared Ian Arling Strom Gurevitch sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of C$0.77, for a total transaction of C$38,500.00. Company insiders own 6.42% of the company’s stock.

Tidewater Midstream and Infrastructure Company Profile

Tidewater Midstream and Infrastructure Ltd. operates as a diversified midstream and infrastructure company in the United States. The company primarily focuses on natural gas, natural gas liquids (NGLs), crude oil, refined products, and renewable products and services. It also engages in the sale of refined petroleum products, including gasoline, low sulphur diesel, and ancillary products, as well as renewable fuels and natural gas; and gathering, processing, transporting, extraction, and marketing of crude oil, natural gas, and NGLs.