Tidewater (NYSE:TDW) Trading Down 5.7% on Analyst Downgrade

Tidewater Inc. (NYSE:TDW)’s stock price was down 5.7% during trading on Wednesday after Evercore ISI lowered their price target on the stock from $67.00 to $65.00. Evercore ISI currently has an in-line rating on the stock. Tidewater traded as low as $56.51 and last traded at $55.5350. Approximately 163,453 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 984,038 shares. The stock had previously closed at $58.92.

A number of other research firms have also recently commented on TDW. Fearnley Fonds upgraded Tidewater to a “hold” rating in a research note on Tuesday, September 16th. Dnb Nor Markets downgraded shares of Tidewater from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 20th. Zacks Research cut shares of Tidewater from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Tidewater in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.33.

Institutional Investors Weigh In On Tidewater

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its holdings in Tidewater by 69.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,904,826 shares of the oil and gas company’s stock valued at $165,058,000 after acquiring an additional 1,598,513 shares during the period. Robotti Robert increased its holdings in Tidewater by 3.3% during the second quarter. Robotti Robert now owns 2,951,533 shares of the oil and gas company’s stock valued at $136,154,000 after buying an additional 94,902 shares during the last quarter. Third Avenue Management LLC raised its position in Tidewater by 8.1% in the second quarter. Third Avenue Management LLC now owns 875,157 shares of the oil and gas company’s stock worth $40,371,000 after acquiring an additional 65,899 shares during the period. Frontier Capital Management Co. LLC boosted its stake in shares of Tidewater by 14.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 744,237 shares of the oil and gas company’s stock worth $34,332,000 after acquiring an additional 92,884 shares during the last quarter. Finally, Federated Hermes Inc. bought a new stake in shares of Tidewater during the 2nd quarter valued at $28,199,000. 95.13% of the stock is currently owned by institutional investors.

Tidewater Price Performance

The stock has a market capitalization of $2.77 billion, a PE ratio of 14.45 and a beta of 1.00. The company has a current ratio of 2.11, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $53.49 and a 200 day moving average price of $50.05.

Tidewater (NYSE:TDW) last released its quarterly earnings results on Monday, November 10th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.46 by ($0.48). Tidewater had a net margin of 14.62% and a return on equity of 16.74%. The company had revenue of $341.11 million for the quarter, compared to the consensus estimate of $328.84 million. During the same period in the prior year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Tidewater has set its FY 2026 guidance at EPS. FY 2025 guidance at EPS. Research analysts anticipate that Tidewater Inc. will post 3.25 earnings per share for the current year.

Tidewater announced that its board has initiated a stock buyback program on Monday, August 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the oil and gas company to purchase up to 21.3% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

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.