Tidewater (TDW) Projected to Post Earnings on Thursday

Tidewater (NYSE:TDW) is expected to be announcing its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of $1.76 per share and revenue of $340.89 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Tidewater Price Performance

Shares of TDW stock opened at $50.01 on Tuesday. The business has a fifty day simple moving average of $53.88 and a 200 day simple moving average of $62.30. The company has a market cap of $2.62 billion, a P/E ratio of 14.71 and a beta of 1.04. The company has a quick ratio of 2.19, a current ratio of 2.29 and a debt-to-equity ratio of 0.54. Tidewater has a twelve month low of $46.50 and a twelve month high of $111.42.

Insider Transactions at Tidewater

In other news, CEO Quintin Kneen purchased 41,615 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $48.06 per share, with a total value of $2,000,016.90. Following the purchase, the chief executive officer now owns 176,239 shares in the company, valued at $8,470,046.34. This represents a 30.91 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on TDW shares. StockNews.com raised Tidewater from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James lowered shares of Tidewater from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $131.00 to $102.00 in a report on Monday, November 11th. Evercore ISI downgraded Tidewater from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $112.00 to $68.00 in a report on Wednesday, January 15th. Pickering Energy Partners downgraded Tidewater from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, DNB Markets initiated coverage on Tidewater in a research report on Friday, November 29th. They issued a “buy” rating and a $70.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Tidewater has an average rating of “Moderate Buy” and an average price target of $92.50.

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.