Brokerages Set Tidewater Inc. (NYSE:TDW) Target Price at $111.25

Shares of Tidewater Inc. (NYSE:TDW) have been given a consensus recommendation of “Buy” by the five analysts that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $111.25.

A number of analysts have recently weighed in on TDW shares. Raymond James increased their price objective on shares of Tidewater from $133.00 to $138.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 8th. StockNews.com lowered Tidewater from a “hold” rating to a “sell” rating in a research note on Wednesday, October 16th.

Hedge Funds Weigh In On Tidewater

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Tidewater by 25.7% in the 1st quarter. Vanguard Group Inc. now owns 4,814,738 shares of the oil and gas company’s stock valued at $442,956,000 after acquiring an additional 985,398 shares during the last quarter. Hsbc Holdings PLC lifted its position in Tidewater by 11,317.3% during the second quarter. Hsbc Holdings PLC now owns 645,418 shares of the oil and gas company’s stock worth $60,992,000 after buying an additional 639,765 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Tidewater during the first quarter worth $34,898,000. Boston Partners grew its holdings in Tidewater by 11.7% in the 1st quarter. Boston Partners now owns 2,323,725 shares of the oil and gas company’s stock valued at $214,055,000 after buying an additional 243,489 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Tidewater by 622.0% in the 2nd quarter. Principal Financial Group Inc. now owns 277,346 shares of the oil and gas company’s stock worth $26,406,000 after acquiring an additional 238,933 shares during the last quarter. 95.13% of the stock is owned by hedge funds and other institutional investors.

Tidewater Stock Performance

TDW opened at $61.55 on Tuesday. The firm’s 50-day moving average price is $74.80 and its 200-day moving average price is $89.50. The company has a market cap of $3.25 billion, a P/E ratio of 24.52 and a beta of 1.12. The company has a quick ratio of 1.82, a current ratio of 1.90 and a debt-to-equity ratio of 0.56. Tidewater has a 52-week low of $54.53 and a 52-week high of $111.42.

Tidewater (NYSE:TDW) last posted its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.72 by $0.22. Tidewater had a net margin of 12.77% and a return on equity of 18.04%. The business had revenue of $339.20 million during the quarter, compared to the consensus estimate of $331.85 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The business’s revenue for the quarter was up 57.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tidewater will post 4.4 EPS for the current fiscal year.

Tidewater declared that its board has authorized a stock repurchase plan on Tuesday, August 6th that permits the company to repurchase $13.90 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 0.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.