Brokerages Set Tidewater Inc. (NYSE:TDW) Price Target at $69.00

Shares of Tidewater Inc. (NYSE:TDW) have received an average recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $69.00.

A number of equities research analysts have recently commented on the company. Zacks Research lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Evercore ISI raised their price target on Tidewater from $60.00 to $67.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 6th. BTIG Research lowered Tidewater from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Dnb Nor Markets lowered Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tidewater in a research report on Friday.

Tidewater Price Performance

Shares of TDW opened at $49.33 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. Tidewater has a 1 year low of $31.17 and a 1 year high of $65.76. The stock has a market cap of $2.44 billion, a P/E ratio of 12.78 and a beta of 1.05. The stock’s 50-day moving average price is $55.28 and its two-hundred day moving average price is $48.30.

Tidewater (NYSE:TDW) last issued its earnings results on Monday, August 4th. The oil and gas company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.95. The firm had revenue of $341.43 million for the quarter, compared to analysts’ expectations of $317.28 million. Tidewater had a return on equity of 16.74% and a net margin of 14.62%.The company’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. Tidewater has set its FY 2025 guidance at EPS. On average, equities analysts predict that Tidewater will post 3.25 earnings per share for the current year.

Tidewater announced that its Board of Directors has initiated a share buyback plan on Monday, August 4th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 21.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Tidewater

In related news, EVP Daniel A. Hudson sold 10,000 shares of Tidewater stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $57.56, for a total value of $575,600.00. Following the sale, the executive vice president owned 75,986 shares of the company’s stock, valued at approximately $4,373,754.16. This trade represents a 11.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Tidewater

A number of hedge funds and other institutional investors have recently bought and sold shares of TDW. Northwestern Mutual Wealth Management Co. raised its position in Tidewater by 2,321.4% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 678 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 650 shares during the last quarter. Bogart Wealth LLC acquired a new position in shares of Tidewater during the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Tidewater during the 1st quarter worth approximately $40,000. Parkside Financial Bank & Trust increased its position in shares of Tidewater by 4,245.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 869 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 849 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Tidewater by 2,510.5% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 992 shares of the oil and gas company’s stock worth $42,000 after purchasing an additional 954 shares during the last quarter. Institutional investors and hedge funds own 95.13% of the company’s stock.

Tidewater Company Profile

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.