Tidewater (TDW) to Release Earnings on Thursday

Tidewater (NYSE:TDW) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.49 per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Tidewater (NYSE:TDW) last posted its quarterly earnings results on Friday, March 1st. The oil and gas company reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.03). The business had revenue of $302.66 million during the quarter, compared to the consensus estimate of $309.46 million. Tidewater had a net margin of 9.62% and a return on equity of 13.37%. The firm’s revenue was up 62.1% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. On average, analysts expect Tidewater to post $5 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Tidewater Stock Performance

Shares of NYSE TDW traded down $4.37 during mid-day trading on Tuesday, reaching $91.71. 209,914 shares of the company were exchanged, compared to its average volume of 742,750. Tidewater has a twelve month low of $39.41 and a twelve month high of $101.10. The stock has a market capitalization of $4.79 billion, a P/E ratio of 50.59 and a beta of 1.20. The company’s 50-day simple moving average is $87.47 and its 200-day simple moving average is $73.50. The company has a quick ratio of 1.70, a current ratio of 1.80 and a debt-to-equity ratio of 0.61.

Tidewater declared that its board has authorized a stock repurchase program on Thursday, February 29th that permits the company to buyback $48.60 million in outstanding shares. This buyback authorization permits the oil and gas company to reacquire up to 1.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

TDW has been the topic of several research reports. Pickering Energy Partners assumed coverage on shares of Tidewater in a research note on Tuesday, January 30th. They issued an “outperform” rating on the stock. Evercore ISI raised their price objective on Tidewater from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. StockNews.com upgraded Tidewater from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Johnson Rice started coverage on shares of Tidewater in a research report on Friday, February 9th. They set a “buy” rating and a $88.00 price objective for the company. Finally, BTIG Research boosted their target price on shares of Tidewater from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $93.00.

Insiders Place Their Bets

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total value of $1,597,991.76. Following the completion of the transaction, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Tidewater news, EVP Daniel A. Hudson sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $82.00, for a total transaction of $656,000.00. Following the completion of the transaction, the executive vice president now owns 104,312 shares in the company, valued at approximately $8,553,584. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Samuel R. Rubio sold 19,641 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $81.36, for a total transaction of $1,597,991.76. Following the sale, the chief financial officer now owns 98,036 shares of the company’s stock, valued at $7,976,208.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,462 shares of company stock valued at $3,716,739. 9.59% of the stock is currently owned by corporate insiders.

About Tidewater

Tidewater Inc, together with its subsidiaries, provides offshore support vessels and marine support services to the offshore energy industry through the operation of a fleet of marine service vessels worldwide. It provides services in support of offshore oil and gas exploration, field development, and production, as well as windfarm development and maintenance, including towing of and anchor handling for mobile offshore drilling units; transporting supplies and personnel necessary to sustain drilling, workover, and production activities; offshore construction, and seismic and subsea support; geotechnical survey support for windfarm construction; and various specialized services, such as pipe and cable laying.