Tidewater (TDW) to Release Earnings on Thursday

Tidewater (NYSE:TDW) is scheduled to be releasing its earnings data after the market closes on Thursday, May 2nd. Analysts expect Tidewater to post earnings of $0.49 per share for the quarter.

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

Tidewater Price Performance

NYSE TDW traded down $0.07 on Friday, hitting $93.15. The company had a trading volume of 70,421 shares, compared to its average volume of 747,667. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.80 and a quick ratio of 1.70. The company’s fifty day moving average price is $85.88 and its 200-day moving average price is $72.92. The company has a market capitalization of $4.87 billion, a PE ratio of 51.08 and a beta of 1.20. Tidewater has a 12-month low of $39.41 and a 12-month high of $101.10.

Tidewater announced that its board has initiated a stock repurchase plan on Thursday, February 29th that authorizes the company to repurchase $48.60 million in outstanding shares. This repurchase authorization authorizes the oil and gas company to purchase up to 1.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

TDW has been the topic of a number of recent research reports. 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 note on Monday, March 4th. BTIG Research upped their target price on Tidewater from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Johnson Rice assumed coverage on Tidewater in a research note on Friday, February 9th. They issued a “buy” rating and a $88.00 target price on the stock. Finally, Pickering Energy Partners began coverage on shares of Tidewater in a research note on Tuesday, January 30th. They set an “outperform” rating for the company. 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. According to MarketBeat.com, Tidewater presently has an average rating of “Buy” and an average target price of $93.00.

Insider Transactions at Tidewater

In other Tidewater news, CFO Samuel R. Rubio sold 19,641 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $81.36, for a total value of $1,597,991.76. Following the sale, the chief financial officer now owns 98,036 shares in the company, valued at approximately $7,976,208.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, 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 value of $1,597,991.76. Following the sale, the chief financial officer now directly owns 98,036 shares in the company, valued at $7,976,208.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO David E. Darling sold 17,821 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $82.08, for a total transaction of $1,462,747.68. Following the completion of the transaction, the chief operating officer now owns 85,959 shares of the company’s stock, valued at approximately $7,055,514.72. The disclosure for this sale can be found here. Insiders have sold 45,462 shares of company stock valued at $3,716,739 over the last ninety days. 9.59% of the stock is owned by company 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.